Fisher & Paykel Healthcare Corp Ltd Stock Forecast

A very strong day for Fisher & Paykel Healthcare Corp Ltd stock price on Wednesday
(Updated on Apr 24, 2024)

FPH.NZ Signals & Forecast

The Fisher & Paykel Healthcare Corp Ltd 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 $26.74 and $25.56. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 17.10%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Thursday, February 22, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Buy

Special Signal Notification

Golden Star

The stock had a Golden Star Signal on Thursday, February 22, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Friday, March 15, 2024 with a target of $25.47. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.

Support, Risk & Stop-loss for Fisher & Paykel Healthcare Corp Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at $26.42 and $23.95. 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, Fisher & Paykel Healthcare Corp Ltd finds support just below today's level at $26.42. If this is broken, then the next support from accumulated volume will be at $23.95 and $23.80.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.19 between high and low, or 4.46%. For the last week the stock has had daily average volatility of 2.69%.

The Fisher & Paykel Healthcare Corp Ltd stock is extremely overbought on RSI14 (79). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: $26.92 (-3.42%) (This stock has low daily movements and this gives low risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 26 days ago.)

Trading Expectations (FPH.NZ) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Fisher & Paykel Healthcare Corporation Limited to open at $27.47, and during the day (based on 14 day Average True Range), to move between $27.16 and $28.58, which gives a possible trading interval of +/-$0.710 (+/-2.55%) up or down from last closing price. If Fisher & Paykel Healthcare Corporation Limited takes out the full calculated possible swing range there will be an estimated 5.09% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $26.42, some $1.45 (5.20%) from the current price of $27.87, our system finds the risk reward attractive.

Is Fisher & Paykel Healthcare Corporation Limited stock A Buy?

Fisher & Paykel Healthcare Corp Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Fisher & Paykel Healthcare Corporation Limited of Friday, April 26, 2024

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