First Pacific Company Ltd Stock Forecast
Evaluation of First Pacific Company Ltd stock downgraded after the last trading session.
(Updated on Apr 26, 2024)
The First Pacific Company Ltd stock price gained 0.714% on the last trading day (Friday, 26th Apr 2024), rising from $2.24 to $2.26. During the last trading day the stock fluctuated 2.14% from a day low at $2.22 to a day high of $2.27. The price has fallen in 6 of the last 10 days and is down by -5.41% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 23 thousand more shares were traded than the day before. In total, 35 thousand shares were bought and sold for approximately $78.22 thousand.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.25 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 24.78% during the next 3 months and, with a 90% probability hold a price between $2.81 and $3.28 at the end of this 3-month period.
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FPAFY Signals & Forecast
First Pacific Company Ltd has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The First Pacific Company Ltd 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 $2.26 and $2.34. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -9.11%. 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).
Support, Risk & Stop-loss for First Pacific Company Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.00 and $1.99. 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, First Pacific Company Ltd finds support just below today's level at $2.00. If this is broken, then the next support from accumulated volume will be at $1.99 and $1.96.
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 $0.0475 between high and low, or 2.14%. For the last week, the stock has had daily average volatility of 2.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FPAFY) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect First Pacific Company Ltd to open at $2.25, and during the day (based on 14 day Average True Range), to move between $2.18 and $2.33, which gives a possible trading interval of +/-$0.0782 (+/-3.47%) up or down from last closing price. If First Pacific Company Ltd takes out the full calculated possible swing range there will be an estimated 6.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.27 (0.62%) than the support at $2.00 (11.35%), 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 First Pacific Company Ltd stock A Buy?
The First Pacific Company Ltd stock holds several negative signals and despite the positive trend, we believe First Pacific Company Ltd will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.385 Sell Candidate Downgraded
Predicted Opening Price for First Pacific Company Ltd of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $2.25 ( 0.362%) | $2.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FPAFY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.30 | 1.74 % | |
| R2 | 2.28 | 0.94 % | ||
| R1 | 2.27 | 0.442 % | ||
| Current price: | 2.26 | |||
| Support | S1 | 2.23 | -1.17 % | |
| S2 | 2.22 | -1.66 % | ||
| S3 | 2.20 | -2.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.48 | 10.02 % | |
| R2 | 2.34 | 3.72 % | ||
| R1 | 2.27 | 0.621 % | ||
| Current price | 2.26 | |||
| Support | S1 | 2.00 | -11.35% | |
| S2 | 1.99 | -11.79% | ||
| S3 | 1.96 | -13.12% |
FPAFY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 28, 2023 | Sep 06, 2023 | Oct 04, 2023 | $0.0670 | 3.53% |
| 2 | Jun 16, 2023 | Jun 20, 2023 | Jul 21, 2023 | $0.0730 | 3.88% |
| 3 | Sep 15, 2022 | Sep 15, 2022 | Oct 12, 2022 | $0.0670 | 4.44% |
| 4 | Jun 17, 2022 | Jun 22, 2022 | Jul 15, 2022 | $0.0640 | 3.23% |
| 5 | Sep 02, 2021 | Sep 08, 2021 | Oct 05, 2021 | $0.0580 | 3.20% |
FAQ
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