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Fomento Economico Mexicano SAB de CV Stock Forecast NYSE:FMX

$71.42 (-0.13%)

Volume: 279k

Closed: Dec 08, 2021

Hollow Logo Score: -1.777

Fomento Economico Mexicano SAB de CV Stock Forecast

$71.42 (-0.13%)

Volume: 279k

Closed: Dec 08, 2021

Score Hollow Logo -1.777
Which way will FMX go? Request
Key Stats
Beta 0.56
Trailing Dividend Rate 1.59% ($1.13)
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] The Fomento Economico Mexicano SAB de CV stock currently holds an RSI14 at 22 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.

Fomento Economico Mexicano SAB de CV stock price down 0.13% on Wednesday
(Updated on Dec 08, 2021)


Sell candidate since 2021-11-11 Loss -12.04%

The Fomento Economico Mexicano SAB de CV stock price fell by -0.13% on the last day (Wednesday, 8th Dec 2021) from $71.51 to $71.42. During the day the stock fluctuated 0.97% from a day low at $71.09 to a day high of $71.78. The price has fallen in 7 of the last 10 days and is down by -3.81% for this period. 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 -296 thousand shares and in total, 279 thousand shares were bought and sold for approximately $19.92 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 -18.59% during the next 3 months and, with a 90% probability hold a price between $55.99 and $62.92 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.

Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, December 01, 2021, and so far it has risen 1.78%. 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. The Fomento Economico Mexicano SAB de CV stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $77.84. On a fall, the stock will find some support from the short-term average at $70.91. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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

Fomento Economico Mexicano SAB de CV finds support from accumulated volume at $71.01 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.69 between high and low, or 0.97%. For the last week, the stock has had a daily average volatility of 1.20%.

Fomento Economico Mexicano SAB de CV is oversold on RSI14 (22). 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 an negative evaluation for this stock. No stop-loss is set.

Is Fomento Economico Mexicano SAB de CV stock A Buy?

Fomento Economico Mexicano SAB de CV holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.777

Predicted Opening Price for Fomento Economico Mexicano SAB de CV of Thursday, December 9, 2021

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

Fair opening price December 9, 2021 Current price
$71.43 $71.42 (Undervalued)
Sell Candidate Unchanged

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Analyst Ratings

On Nov 24, 2021 "Morgan Stanley" gave "$90.00 - $92.00" rating for FMX. The price target was set to $74.33+0.1%.

Volatility and Risk
Daily Average Volatility: 1.20 %
Overall Risk: Very High High Medium Low Very Low
Volatility
1.20 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $74.30
Price: $71.42
Support: $71.01

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 72.12 0.98 %
71.86 0.61 %
71.69 0.38 %
Current price: 71.42
Support 71.17 -0.36 %
71.00 -0.58 %
70.74 -0.95 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 76.11 6.57 %
75.42 5.60 %
74.30 4.03 %
Current price 71.42
Support 71.01 -0.57%
70.97 -0.63%
70.74 -0.95%

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About Fomento Economico Mexicano SAB de CV

Fomento Economico Mexicano SAB de CV Fomento Económico Mexicano, S.A.B. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages and a chain of small-format stores. It produces, markets, sells, and distributes Coca-Cola trademark beverages, including sparkling beverages, such as colas and flavored sparkling beverages; waters; and still beverages comprising juice drinks, coffee, teas, milk, value-added dairy products, and isotonic drinks. The company... Read more

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