Fleetpartners Group Limited Stock Forecast
Fleetpartners Group Limited stock downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Jun 26, 2024)
The Fleetpartners Group Limited stock price fell by -0.549% on the last day (Wednesday, 26th Jun 2024) from $3.64 to $3.62. During the last trading day the stock fluctuated 2.52% from a day low at $3.57 to a day high of $3.66. The price has risen in 6 of the last 10 days and is up by 2.84% over the past 2 weeks. Volume has increased on the last day by 36 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 295 thousand shares were bought and sold for approximately $1.07 million.
The stock lies the upper part of a wide and falling 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 $3.64 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -4.95% during the next 3 months and, with a 90% probability hold a price between $3.00 and $3.46 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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FPR.AX Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, June 25, 2024, and so far it has fallen -0.549%. 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). Fleetpartners Group Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The Fleetpartners Group Limited 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 $3.56 and $3.50. A breakdown below any of these levels will issue sell signals. The stock had a Golden Star Signal on Wednesday, June 19, 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.
Golden Star
The stock had a Golden Star Signal on Wednesday, June 19, 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.
Support, Risk & Stop-loss for Fleetpartners Group Limited stock
Fleetpartners Group Limited finds support from accumulated volume at $3.51 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0900 between high and low, or 2.52%. For the last week the stock has had daily average volatility of 2.02%.
Our recommended stop-loss: $3.51 (-2.96%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 27 days ago.)
Trading Expectations (FPR.AX) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Fleetpartners Group Limited to open at $3.62, and during the day (based on 14 day Average True Range), to move between $3.53 and $3.71, which gives a possible trading interval of +/-$0.0875 (+/-2.42%) up or down from last closing price. If Fleetpartners Group Limited takes out the full calculated possible swing range there will be an estimated 4.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.64 (0.55%) than the support at $3.51 (3.04%), 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 Fleetpartners Group Limited stock A Buy?
Fleetpartners Group Limited 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: 0.170 Hold/Accumulate Downgraded
Predicted Opening Price for Fleetpartners Group Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $3.62 ( 0.0921%) | $3.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FPR.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.71 | 2.39% |
| R2 | 3.67 | 1.44% |
| R1 | 3.65 | 0.86% |
| Price | 3.62 | |
| S1 | 3.58 | -1.04% |
| S2 | 3.56 | -1.63% |
| S3 | 3.53 | -2.58% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.69 | 1.93% |
| R2 | 3.66 | 1.10% |
| R1 | 3.64 | 0.552% |
| Price | 3.62 | |
| S1 | 3.51 | -3.04% |
| S2 | 3.43 | -5.25% |
| S3 | 3.34 | -7.73% |
FPR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 13, 2018 | Dec 13, 2018 | Jan 25, 2019 | $0.0800 | 3.01% |
| 2 | Jun 01, 2018 | Jun 01, 2018 | Jul 02, 2018 | $0.0800 | 2.49% |
| 3 | Dec 28, 2017 | Dec 28, 2017 | Jan 19, 2018 | $0.0775 | 2.00% |
| 4 | May 18, 2017 | May 18, 2017 | Jul 07, 2017 | $0.0750 | 2.10% |
| 5 | Dec 29, 2016 | Dec 29, 2016 | Dec 29, 2016 | $0.0700 | 1.85% |
FAQ
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