Flowserve Corporation Stock Forecast
Flowserve Corporation stock upgraded to Buy Candidate.
(Updated on Jul 02, 2024)
The Flowserve Corporation stock price gained 1.37% on the last trading day (Tuesday, 2nd Jul 2024), rising from $46.87 to $47.51. During the last trading day the stock fluctuated 1.86% from a day low at $46.69 to a day high of $47.56. The price has risen in 6 of the last 10 days and is up by 0.85% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 166 thousand more shares were traded than the day before. In total, 830 thousand shares were bought and sold for approximately $39.46 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $46.81 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.52% during the next 3 months and, with a 90% probability hold a price between $47.99 and $52.26 at the end of this 3-month period.
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FLS Signals & Forecast
There are mixed signals in the stock today. The Flowserve Corporation 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 $47.81 and $48.46. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 1.97%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Flowserve Corporation stock
Flowserve Corporation finds support from accumulated volume at $47.27 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 $0.87 between high and low, or 1.86%. For the last week the stock has had daily average volatility of 2.06%.
Our recommended stop-loss: $44.81 (-5.68%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (FLS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Flowserve Corporation to open at $47.25, and during the day (based on 14 day Average True Range), to move between $46.56 and $48.46, which gives a possible trading interval of +/-$0.95 (+/-2.01%) up or down from last closing price. If Flowserve Corporation takes out the full calculated possible swing range there will be an estimated 4.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $47.27 (0.51%) than the resistance at $47.86 (0.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Flowserve 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 Flowserve 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: 2.407 Buy Candidate Upgraded
Predicted Opening Price for Flowserve Corporation of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $47.25 ( 0.540%) | $47.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FLS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 48.12 | 1.29% |
| R2 | 47.79 | 0.591% |
| R1 | 47.59 | 0.159% |
| Price | 47.51 | |
| S1 | 46.92 | -1.24% |
| S2 | 46.72 | -1.67% |
| S3 | 46.38 | -2.37% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 48.15 | 1.35% |
| R2 | 48.00 | 1.03% |
| R1 | 47.86 | 0.737% |
| Price | 47.51 | |
| S1 | 47.27 | -0.505% |
| S2 | 47.24 | -0.568% |
| S3 | 47.16 | -0.737% |
FLS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 20, 2024 | Jun 28, 2024 | Jul 12, 2024 | $0.210 | 0.442% |
| 2 | Feb 20, 2024 | Mar 27, 2024 | Apr 12, 2024 | $0.210 | 0.450% |
| 3 | Dec 12, 2023 | Dec 28, 2023 | Jan 12, 2024 | $0.200 | 0.496% |
| 4 | Aug 16, 2023 | Sep 21, 2023 | Oct 06, 2023 | $0.200 | 0.531% |
| 5 | May 31, 2023 | Jun 22, 2023 | Jul 07, 2023 | $0.200 | 0.541% |
FAQ
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