Funko, Inc. Stock Forecast
Funko, Inc. stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on May 01, 2024)
The Funko, Inc. stock price fell by -1.31% on the last day (Wednesday, 1st May 2024) from $6.09 to $6.01. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 6.63% from a day low at $5.73 to a day high of $6.11. The price has fallen in 6 of the last 10 days but is still up by 5.25% over the past 2 weeks. Volume has increased on the last day by 281 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 638 thousand shares were bought and sold for approximately $3.83 million.
The stock lies the upper part of a wide and falling 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 $6.23 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -24.68% during the next 3 months and, with a 90% probability hold a price between $3.83 and $4.69 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.
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FNKO Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 10.28%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Funko, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $6.13 and $6.05. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Funko, Inc. stock
Funko, Inc. finds support from accumulated volume at $5.75 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 $0.380 between high and low, or 6.63%. For the last week, the stock has had daily average volatility of 4.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FNKO) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Funko, Inc. to open at $5.95, and during the day (based on 14 day Average True Range), to move between $5.72 and $6.30, which gives a possible trading interval of +/-$0.289 (+/-4.81%) up or down from last closing price. If Funko, Inc. takes out the full calculated possible swing range there will be an estimated 9.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.11 (1.66%) than the support at $5.75 (4.33%), 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.
Earnings coming up
Funko, Inc. will release earnings AMC on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.290. We will update the financials statements for Funko, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.45% in the first trading day after earnings release.
Is Funko, Inc. stock A Buy?
Funko, Inc. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.763 Sell Candidate Downgraded
Predicted Opening Price for Funko, Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $5.95 ( 1.00%) | $6.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FNKO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.33 | 5.32 % | |
| R2 | 6.18 | 2.91 % | ||
| R1 | 6.10 | 1.42 % | ||
| Current price: | 6.01 | |||
| Support | S1 | 5.80 | -3.41 % | |
| S2 | 5.72 | -4.91 % | ||
| S3 | 5.57 | -7.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.86 | 14.14 % | |
| R2 | 6.21 | 3.33 % | ||
| R1 | 6.11 | 1.66 % | ||
| Current price | 6.01 | |||
| Support | S1 | 5.75 | -4.33% | |
| S2 | 5.73 | -4.66% | ||
| S3 | 5.64 | -6.16% |
FAQ
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