Flora Growth Corp. Stock Forecast

High volatility in Flora Growth Corp. stock price on Friday which ended trading at $1.36
(Updated on Apr 26, 2024)

FLGC Signals & Forecast

There are few to no technical positive signals at the moment. The Flora Growth Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1.58 and $1.72. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -49.06%. 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). Flora Growth Corp. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Flora Growth Corp. stock

On the downside, the stock finds support just below today's level from accumulated volume at $1.19 and $1.18. 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, Flora Growth Corp. finds support just below today's level at $1.19. If this is broken, then the next support from accumulated volume will be at $1.18 and $1.10.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.280 between high and low, or 21.05%. For the last week, the stock has had daily average volatility of 12.08%.

Flora Growth Corp. is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (FLGC) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Flora Growth Corp. to open at $1.43, and during the day (based on 14 day Average True Range), to move between $1.10 and $1.62, which gives a possible trading interval of +/-$0.261 (+/-19.19%) up or down from last closing price. If Flora Growth Corp. takes out the full calculated possible swing range there will be an estimated 38.38% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $1.19 (12.50%) than the resistance at $1.58 (16.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Flora Growth Corp. stock A Buy?

The Flora Growth Corp. stock holds several negative signals and despite the positive trend, we believe Flora Growth Corp. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -3.406 Sell Candidate Unchanged

Predicted Opening Price for Flora Growth Corp. of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.