Feutune Light Acquisition Corporation Stock Forecast
Volatile ride for Feutune Light Acquisition Corporation stock price on Tuesday moving between $0.190 and $0.230
(Updated on Jun 18, 2024)
The Feutune Light Acquisition Corporation stock price gained 5.32% on the last trading day (Tuesday, 18th Jun 2024), rising from $0.190 to $0.200. During the last trading day the stock fluctuated 21.05% from a day low at $0.190 to a day high of $0.230. The price has risen in 6 of the last 10 days and is up by 13.57% over the past 2 weeks. Volume fell on the last day by -18 thousand shares and in total, 49 thousand shares were bought and sold for approximately $9.89 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $0.205 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 60.59% during the next 3 months and, with a 90% probability hold a price between $0.262 and $0.329 at the end of this 3-month period.
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FLFVR Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The Feutune Light Acquisition Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.185 and $0.159. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Feutune Light Acquisition Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.182 and $0.180. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Feutune Light Acquisition Corporation finds support just below today's level at $0.182. If this is broken, then the next support from accumulated volume will be at $0.180 and $0.160.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0400 between high and low, or 21.05%. For the last week the stock has had daily average volatility of 14.61%.
Our recommended stop-loss: $0.193 (-3.32%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (FLFVR) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Feutune Light Acquisition Corporation to open at $0.207, and during the day (based on 14 day Average True Range), to move between $0.178 and $0.222, which gives a possible trading interval of +/-$0.0223 (+/-11.16%) up or down from last closing price. If Feutune Light Acquisition Corporation takes out the full calculated possible swing range there will be an estimated 22.32% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.182, some $0.0176 (8.80%) from the current price of $0.200, our system finds the risk reward attractive.
Is Feutune Light Acquisition Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Feutune Light Acquisition Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.850 Buy Candidate Upgraded
Predicted Opening Price for Feutune Light Acquisition Corporation of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| $0.207 ( 3.33%) | $0.200 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FLFVR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.247 | 23.33% |
| R2 | 0.231 | 15.69% |
| R1 | 0.222 | 10.97% |
| Price | 0.200 | |
| S1 | 0.191 | -4.31% |
| S2 | 0.182 | -9.03% |
| S3 | 0.167 | -16.67% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.200 | |
| S1 | 0.182 | -8.80% |
| S2 | 0.180 | -10.00% |
| S3 | 0.160 | -20.00% |
FAQ
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