Flex LNG Ltd. Stock Forecast
Stronger technical forecast for Flex LNG Ltd. stock price after Wednesday trading.
(Updated on Apr 24, 2024)
The Flex LNG Ltd. stock price fell by -0.231% on the last day (Wednesday, 24th Apr 2024) from $25.96 to $25.90. During the last trading day the stock fluctuated 1.01% from a day low at $25.69 to a day high of $25.95. The price has risen in 6 of the last 10 days and is up by 2.29% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -50 thousand shares and in total, 164 thousand shares were bought and sold for approximately $4.25 million.
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 -11.00% during the next 3 months and, with a 90% probability hold a price between $19.75 and $24.28 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
FLNG Signals & Forecast
The Flex LNG Ltd. 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 $25.66 and $25.51. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 27, 2024, and so far it has risen 6.28%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Flex LNG Ltd. stock
Flex LNG Ltd. finds support from accumulated volume at $25.31 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.260 between high and low, or 1.01%. For the last week the stock has had daily average volatility of 1.39%.
Our recommended stop-loss: $24.86 (-4.00%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 40 days ago.)
Trading Expectations (FLNG) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Flex LNG Ltd. to open at $25.85, and during the day (based on 14 day Average True Range), to move between $25.48 and $26.32, which gives a possible trading interval of +/-$0.420 (+/-1.62%) up or down from last closing price. If Flex LNG Ltd. takes out the full calculated possible swing range there will be an estimated 3.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $26.17 (1.04%) than the support at $25.31 (2.28%), 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 Flex LNG Ltd. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 1.947 Buy Candidate Upgraded
Predicted Opening Price for Flex LNG Ltd. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $25.85 ( 0.206%) | $25.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FLNG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.11 | 0.798 % | |
| R2 | 26.01 | 0.414 % | ||
| R1 | 25.95 | 0.178 % | ||
| Current price: | 25.90 | |||
| Support | S1 | 25.75 | -0.589 % | |
| S2 | 25.69 | -0.83 % | ||
| S3 | 25.59 | -1.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.83 | 3.59 % | |
| R2 | 26.30 | 1.54 % | ||
| R1 | 26.17 | 1.04 % | ||
| Current price | 25.90 | |||
| Support | S1 | 25.31 | -2.28% | |
| S2 | 25.20 | -2.70% | ||
| S3 | 24.37 | -5.91% |
FLNG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 06, 2024 | Feb 22, 2024 | Mar 08, 2024 | $0.750 | 2.94% |
| 2 | Nov 07, 2023 | Nov 27, 2023 | Dec 08, 2023 | $0.125 | 0.435% |
| 3 | Aug 16, 2023 | Aug 30, 2023 | Sep 05, 2023 | $0.750 | 2.48% |
| 4 | May 16, 2023 | May 30, 2023 | Jun 13, 2023 | $0.750 | 2.47% |
| 5 | Feb 13, 2023 | Feb 22, 2023 | Mar 07, 2023 | $1.00 | 2.89% |
FAQ
Click here for our free guide on how to buy Flex LNG Ltd. Stock.
