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AI Analysis of FORD
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A very red day for Forward Industries stock price after a -5.47% fall in the Wednesday trading session
(Updated on Apr 17, 2024)

Sell candidate since Feb 15, 2024 Loss -28.21% PDF

The Forward Industries stock price fell by -5.47% on the last day (Wednesday, 17th Apr 2024) from $0.530 to $0.501. During the last trading day the stock fluctuated 7.39% from a day low at $0.501 to a day high of $0.538. The price has fallen in 7 of the last 10 days and is down by -12.11% 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 -1 thousand shares and in total, 9 thousand shares were bought and sold for approximately $4.58 thousand.

The stock lies in the middle of a very 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 -26.29% during the next 3 months and, with a 90% probability hold a price between $0.283 and $0.444 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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FORD Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 8.91%. 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 Forward Industries 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 $0.537 and $0.592. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Forward Industries stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.460. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0370 between high and low, or 7.39%. For the last week the stock has had daily average volatility of 6.28%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (FORD) For The Upcoming Trading Day Of Thursday 18th

For the upcoming trading day on Thursday, 18th we expect Forward Industries to open at $0.513, and during the day (based on 14 day Average True Range), to move between $0.462 and $0.540, which gives a possible trading interval of +/-$0.0393 (+/-7.85%) up or down from last closing price. If Forward Industries takes out the full calculated possible swing range there will be an estimated 15.71% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.460 (8.18%) than the resistance at $0.580 (15.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Forward Industries stock A Buy?

Forward Industries holds several negative signals and is within a very 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 Sell to a Strong Sell candidate.

Current score: -5.015 Strong Sell Candidate Downgraded

Predicted Opening Price for Forward Industries of Thursday, April 18, 2024

Fair opening price April 18, 2024 Current price
$0.513 ( 2.46%) $0.501

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

Trading levels for FORD

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 0.550 9.85 %
R2 0.536 7.03 %
R1 0.527 5.28 %
Current price: 0.501
Support S1 0.499 -0.359 %
S2 0.490 -2.10 %
S3 0.476 -4.92 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0.590 17.76 %
R2 0.582 16.23 %
R1 0.580 15.77 %
Current price 0.501
Support S1 0.460 -8.18%
S2 0 .
S3 0 .

FAQ

What is the symbol for Forward Industries Stock and on which exchange is it traded?
The symbol for Forward Industries is FORD and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Forward Industries Stock?
Forward Industries holds several negative signals and is within a very 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 Sell to a Strong Sell candidate.

How to buy Forward Industries Stock?
Forward Industries Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Forward Industries Stock.

What's the current price of Forward Industries Stock?
As of the end of day on the 2024-04-17, the price of an Forward Industries (FORD) share was $0.501.

What is the 52-week high and low for Forward Industries Stock?
The 52-week high for Forward Industries Stock is $1.12 and the 52-week low is $0.460.

What is the market capitalization of Forward Industries Stock?
As of the 2024-04-17, the market capitalization of Forward Industries is 5.041M.

When is the next earnings date for Forward Industries?
The upcoming earnings date for Forward Industries is May 10, 2024.
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About Forward Industries

Forward Industries Forward Industries, Inc., together with its subsidiaries, designs, markets, and distributes carry and protective solutions primarily for handheld electronic devices. The company operates in three segments: OEM Distribution, Retail Distribution, and Design. The OEM Distribution segment sources and distributes carrying cases and other accessories for medical monitoring and diagnostic kits; and various portable electronic and non-electronic products... FORD Profile

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