Fonix Mobile plc Stock Forecast
Evaluation of Fonix Mobile plc stock downgraded after the last trading session.
(Updated on May 16, 2024)
The Fonix Mobile plc stock price fell by -2.04% on the last day (Thursday, 16th May 2024) from £245.00 to £240.00. During the last trading day the stock fluctuated 4.26% from a day low at £235.00 to a day high of £245.00. The price has risen in 5 of the last 10 days and is up by 3.23% over the past 2 weeks. Volume has increased on the last day by 26 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, 52 thousand shares were bought and sold for approximately £12.40 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 -2.18% during the next 3 months and, with a 90% probability hold a price between £221.01 and £272.30 at the end of this 3-month period.
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FNX.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 5.26%. 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 Fonix Mobile plc 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 £243.66 and £242.75. 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 Fonix Mobile plc stock
Fonix Mobile plc finds support from accumulated volume at £232.50 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 £10.00 between high and low, or 4.26%. For the last week, the stock has had daily average volatility of 5.43%.
Our recommended stop-loss: £227.57 (-5.18%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (FNX.L) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Fonix Mobile plc to open at £240.00, and during the day (based on 14 day Average True Range), to move between £229.04 and £250.96, which gives a possible trading interval of +/-£10.96 (+/-4.57%) up or down from last closing price. If Fonix Mobile plc takes out the full calculated possible swing range there will be an estimated 9.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £242.50 (1.04%) than the support at £232.50 (3.13%), 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 Fonix Mobile plc stock A Buy?
Fonix Mobile plc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.698 Hold/Accumulate Downgraded
Predicted Opening Price for Fonix Mobile plc of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| £240.00 ( 0%) | £240.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FNX.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 250.00 | 4.17 % | |
| R2 | 246.18 | 2.58 % | ||
| R1 | 243.82 | 1.59 % | ||
| Current price: | 240.00 | |||
| Support | S1 | 236.18 | -1.59 % | |
| S2 | 233.82 | -2.58 % | ||
| S3 | 230.00 | -4.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 258.00 | 7.50 % | |
| R2 | 245.00 | 2.08 % | ||
| R1 | 242.50 | 1.04 % | ||
| Current price | 240.00 | |||
| Support | S1 | 232.50 | -3.13% | |
| S2 | 232.00 | -3.33% | ||
| S3 | 230.00 | -4.17% |
FNX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Apr 02, 2024 | £2.60 | 1.01% |
| 2 | Nov 16, 2023 | Nov 16, 2023 | Nov 16, 2023 | £0 | 0% |
| 3 | Mar 23, 2023 | Mar 23, 2023 | Mar 23, 2023 | £2.36 | 1.18% |
| 4 | Oct 21, 2022 | Nov 24, 2022 | Nov 30, 2022 | £4.50 | 2.30% |
| 5 | Mar 14, 2022 | Mar 24, 2022 | Mar 31, 2022 | £2.00 | 1.31% |
FAQ
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