Flextronics International Ltd. Stock Forecast
Flextronics International Ltd. stock price up 1.81% on Friday
(Updated on Sep 22, 2023)
The Flextronics International Ltd. stock price gained 1.81% on the last trading day (Friday, 22nd Sep 2023), rising from $25.42 to $25.88. During the last trading day the stock fluctuated 2.47% from a day low at $25.50 to a day high of $26.13. The price has fallen in 5 of the last 10 days and is down by -1.37% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 808 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $74.57 million.
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The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.09% during the next 3 months and, with a 90% probability hold a price between $23.28 and $25.82 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
FLEX Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, September 21, 2023, and so far it has risen 1.81%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Flextronics International Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $26.44. On a fall, the stock will find some support from the short-term average at $25.80. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Double Bottom Formation
A buy signal from a double bottom formation was found on Thursday, September 21, 2023 and based on theory for this formation the price should go up by 12.51% to $29.12 within 24 trading days since signal was issued (Monday, September 25, 2023).
Support, Risk & Stop-loss for Flextronics International Ltd. stock
Flextronics International Ltd. finds support from accumulated volume at $25.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.630 (2.47%) between high and low. For the last week, the stock has had daily average volatility of 1.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FLEX) For The Upcoming Trading Day Of Monday 25th
For the upcoming trading day on Monday, 25th we expect Flextronics International Ltd. to open at $25.84, and during the day (based on 14 day Average True Range), to move between $25.35 and $26.41, which gives a possible trading interval of +/-$0.529 (+/-2.04%) up or down from last closing price. If Flextronics International Ltd. takes out the full calculated possible swing range there will be an estimated 4.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $25.80 (0.31%) than the resistance at $27.00 (4.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Flextronics International Ltd. stock A Buy?
Flextronics International Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.121 Open Broker Account
Sell Candidate UnchangedPredicted Opening Price for Flextronics International Ltd. of Monday, September 25, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price September 25, 2023 | Current price |
|---|---|
| $25.84 | $25.88 (Overvalued) |
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Trading levels for FLEX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.47 | 2.27 % | |
| R2 | 26.23 | 1.34 % | ||
| R1 | 26.08 | 0.762 % | ||
| Current price: | 25.88 | |||
| Support | S1 | 25.60 | -1.10 % | |
| S2 | 25.45 | -1.67 % | ||
| S3 | 25.21 | -2.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.40 | 9.74 % | |
| R2 | 28.36 | 9.58 % | ||
| R1 | 27.00 | 4.33 % | ||
| Current price | 25.88 | |||
| Support | S1 | 25.80 | -0.309% | |
| S2 | 25.69 | -0.734% | ||
| S3 | 25.50 | -1.47% |
FAQ
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About Flextronics International Ltd.
Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The company provides cross-industry technologies, including human-machine interface, internet of things platforms, power, sensor fusion, and smart audio. It also offers... FLEX Profile
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