Flexpoint Sensor Systems Stock Forecast
Volatile ride for Flexpoint Sensor Systems stock price on Friday moving between $0.0050 and $0.0075
(Updated on May 17, 2024)
The Flexpoint Sensor Systems stock price gained 5.63% on the last trading day (Friday, 17th May 2024), rising from $0.0071 to $0.0075. During the last trading day the stock fluctuated 50.00% from a day low at $0.0050 to a day high of $0.0075. The price has risen in 4 of the last 10 days. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 186 thousand more shares were traded than the day before. In total, 186 thousand shares were bought and sold for approximately $1.40 thousand.
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 $0.0078 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 36.16% during the next 3 months and, with a 90% probability hold a price between $0.0060 and $0.0107 at the end of this 3-month period.
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FLXT Signals & Forecast
The Flexpoint Sensor Systems 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 $0.0068 and $0.0057. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Flexpoint Sensor Systems has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.
A buy signal from a double bottom formation was found on Friday, March 01, 2024 with a target of $0.0063. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Flexpoint Sensor Systems stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0068 and $0.0062. 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, Flexpoint Sensor Systems finds support just below today's level at $0.0068. If this is broken, then the next support from accumulated volume will be at $0.0062 and $0.0060.
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 $0.0025 between high and low, or 50.00%. For the last week, the stock has had daily average volatility of 12.10%.
Our recommended stop-loss: $0.0072 (-3.60%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (FLXT) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Flexpoint Sensor Systems to open at $0.0067, and during the day (based on 14 day Average True Range), to move between $0.0066 and $0.0084, which gives a possible trading interval of +/-$0.0009 (+/-11.37%) up or down from last closing price. If Flexpoint Sensor Systems takes out the full calculated possible swing range there will be an estimated 22.73% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.0068, some $0.0008 (10.00%) from the current price of $0.0075, our system finds the risk reward attractive.
Earnings coming up
Flexpoint Sensor Systems will release earnings BMO on Sunday, May 19, 2024. We will update the financials statements for Flexpoint Sensor Systems, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 17.82% in the first trading day after earnings release.
Is Flexpoint Sensor Systems stock A Buy?
Flexpoint Sensor Systems holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Flexpoint Sensor Systems of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0067 ( 11.11%) | $0.0075 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FLXT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0092 | 22.22 % | |
| R2 | 0.0082 | 9.49 % | ||
| R1 | 0.0076 | 1.62 % | ||
| Current price: | 0.0075 | |||
| Support | S1 | 0.0057 | -23.84 % | |
| S2 | 0.0051 | -31.71 % | ||
| S3 | 0.0042 | -44.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.0075 | |||
| Support | S1 | 0.0068 | -10.00% | |
| S2 | 0.0062 | -17.33% | ||
| S3 | 0.0060 | -20.00% |
FAQ
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