Franklin Ftse Hong Kong Etf ETF Forecast

Stronger technical forecast for Franklin Ftse Hong Kong Etf ETF price after Friday trading.
(Updated on Jun 28, 2024)

FLHK Signals & Forecast

There are few to no technical positive signals at the moment. The Franklin Ftse Hong Kong Etf ETF 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 $16.61 and $17.75. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -14.51%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Franklin Ftse Hong Kong Etf ETF

Franklin Ftse Hong Kong Etf finds support from accumulated volume at $16.07 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0.159 between high and low, or 0.98%. For the last week the ETF has had daily average volatility of 0.88%.

Franklin Ftse Hong Kong Etf is oversold on RSI14 (10). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: $15.15 (-6.80%) (This ETF has medium daily movements and this gives medium risk. Low RSI14 is 10 which reduces the risk some. There is a sell signal from a pivot top found 50 days ago.)

Trading Expectations (FLHK) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Franklin Ftse Hong Kong Etf to open at $16.31, and during the day (based on 14 day Average True Range), to move between $16.05 and $16.47, which gives a possible trading interval of +/-$0.213 (+/-1.31%) up or down from last closing price. If Franklin Ftse Hong Kong Etf takes out the full calculated possible swing range there will be an estimated 2.62% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $16.45 (1.17%) than the support at $16.07 (1.17%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Franklin Ftse Hong Kong Etf ETF A Buy?

Franklin Ftse Hong Kong Etf holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.878 Hold/Accumulate Upgraded

Predicted Opening Price for Franklin Ftse Hong Kong Etf of Monday, July 1, 2024

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