Fossil Group Stock Forecast
Green day on Friday for Fossil Group
(Updated on Apr 26, 2024)
The Fossil Group stock price gained 0.279% on the last trading day (Friday, 26th Apr 2024), rising from $0.789 to $0.791. During the last trading day the stock fluctuated 3.37% from a day low at $0.790 to a day high of $0.82. The price has fallen in 7 of the last 10 days and is down by -11.85% for this period. Volume fell on the last day by -429 thousand shares and in total, 186 thousand shares were bought and sold for approximately $147.29 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 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 -24.88% during the next 3 months and, with a 90% probability hold a price between $0.493 and $0.720 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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FOSL Signals & Forecast
There are few to no technical positive signals at the moment. The Fossil Group 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 $0.81 and $0.90. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -25.02%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 also not.
Support, Risk & Stop-loss for Fossil Group stock
Fossil Group finds support from accumulated volume at $0.789 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0266 between high and low, or 3.37%. For the last week the stock has had daily average volatility of 4.84%.
Fossil Group is oversold on RSI14 (24). 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 a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FOSL) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Fossil Group to open at $0.799, and during the day (based on 14 day Average True Range), to move between $0.723 and $0.86, which gives a possible trading interval of +/-$0.0678 (+/-8.57%) up or down from last closing price. If Fossil Group takes out the full calculated possible swing range there will be an estimated 17.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.789 (0.28%) than the resistance at $0.81 (2.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Fossil Group stock A Buy?
Fossil Group 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.
Current score: -6.341 Strong Sell Candidate Unchanged
Predicted Opening Price for Fossil Group of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.799 ( 1.04%) | $0.791 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FOSL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.83 | 4.40 % | |
| R2 | 0.82 | 3.11 % | ||
| R1 | 0.81 | 2.32 % | ||
| Current price: | 0.791 | |||
| Support | S1 | 0.789 | -0.248 % | |
| S2 | 0.783 | -1.04 % | ||
| S3 | 0.773 | -2.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.87 | 9.99 % | |
| R2 | 0.87 | 9.53 % | ||
| R1 | 0.81 | 2.40 % | ||
| Current price | 0.791 | |||
| Support | S1 | 0.789 | -0.278% | |
| S2 | 0.780 | -1.42% | ||
| S3 | 0.780 | -1.44% |
FAQ
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