Forward Industries Stock Forecast

Buy or Hold candidate since Nov 04, 2024 Gain 52.88%

The Forward Industries stock price gained 2.95% on the last trading day (Friday, 17th Jan 2025), rising from $5.42 to $5.58. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.13% from a day low at $5.44 to a day high of $5.61. The price has risen in 7 of the last 10 days and is up by 11.38% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 7 thousand shares were bought and sold for approximately $38.97 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies in the upper part of a 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 $5.69 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 52.81% during the next 3 months and, with a 90% probability hold a price between $7.66 and $8.69 at the end of this 3-month period.

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FORD Signals & Forecast

The Forward Industries 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 $5.41 and $4.72. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, November 21, 2024, and so far it has risen 46.07%. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. 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 $5.05 and $4.49. 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, Forward Industries finds support just below today's level at $5.05. If this is broken, then the next support from accumulated volume will be at $4.49 and $4.45.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.170 between high and low, or 3.13%. For the last week the stock has had daily average volatility of 5.39%.

Our recommended stop-loss: $5.41 (-3.02%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 37 days ago.)

Trading Expectations (FORD) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Forward Industries to open at $5.54, and during the day (based on 14 day Average True Range), to move between $5.28 and $5.88, which gives a possible trading interval of +/-$0.300 (+/-5.38%) up or down from last closing price. If Forward Industries takes out the full calculated possible swing range there will be an estimated 10.76% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $5.05, some $0.530 (9.50%) from the current price of $5.58, our system finds the risk reward attractive.

Is Forward Industries stock A Buy?

Forward Industries holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 7.108 Strong Buy Candidate Upgraded

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Predicted Fair Opening Price

Predicted fair opening price on January 21, 2025 - $5.54 ( 0.657%).