Friedman Industries Incorporated Stock Forecast
Friedman Industries Incorporated stock price ended at $18.66 on Wednesday, after gaining 0.107%.
(Updated on Mar 27, 2024)
The Friedman Industries Incorporated stock price gained 0.107% on the last trading day (Wednesday, 27th Mar 2024), rising from $18.64 to $18.66. During the last trading day the stock fluctuated 1.78% from a day low at $18.50 to a day high of $18.83. The price has fallen in 6 of the last 10 days but is still up by 4.71% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 15 thousand shares were bought and sold for approximately $281.47 thousand.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 17.43% during the next 3 months and, with a 90% probability hold a price between $19.84 and $23.57 at the end of this 3-month period.
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FRD Signals & Forecast
The Friedman Industries Incorporated 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 $17.94 and $17.77. A breakdown below any of these levels will issue sell signals. Friedman Industries Incorporated 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -1.17%. 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 Friedman Industries Incorporated stock
On the downside, the stock finds support just below today's level from accumulated volume at $17.05 and $16.60. 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, Friedman Industries Incorporated finds support just below today's level at $17.05. If this is broken, then the next support from accumulated volume will be at $16.60 and $16.48.
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 $0.330 between high and low, or 1.78%. For the last week, the stock has had daily average volatility of 3.64%.
Our recommended stop-loss: $17.85 (-4.36%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (FRD) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Friedman Industries Incorporated to open at $18.66, and during the day (based on 14 day Average True Range), to move between $17.97 and $19.35, which gives a possible trading interval of +/-$0.687 (+/-3.68%) up or down from last closing price. If Friedman Industries Incorporated takes out the full calculated possible swing range there will be an estimated 7.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $18.70 (0.21%) than the support at $17.05 (8.63%), 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 Friedman Industries Incorporated stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Friedman Industries Incorporated stock to perform well in the short-term.
Current score: 2.624 Buy Candidate Unchanged
Predicted Opening Price for Friedman Industries Incorporated of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$18.66 ( 0.0179%) | $18.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FRD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 18.99 | 1.79 % | |
R2 | 18.87 | 1.11 % | ||
R1 | 18.79 | 0.693 % | ||
Current price: | 18.66 | |||
Support | S1 | 18.54 | -0.658 % | |
S2 | 18.46 | -1.08 % | ||
S3 | 18.33 | -1.75 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 19.00 | 1.82 % | |
R2 | 18.88 | 1.18 % | ||
R1 | 18.70 | 0.214 % | ||
Current price | 18.66 | |||
Support | S1 | 17.05 | -8.63% | |
S2 | 16.60 | -11.04% | ||
S3 | 16.48 | -11.68% |
FRD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 20, 2024 | Apr 25, 2024 | May 24, 2024 | $0.0400 | 0.213% |
2 | Dec 13, 2023 | Jan 18, 2024 | Feb 16, 2024 | $0.0200 | 0.117% |
3 | Sep 13, 2023 | Oct 19, 2023 | Nov 10, 2023 | $0.0200 | 0.175% |
4 | Jun 20, 2023 | Jul 20, 2023 | Aug 11, 2023 | $0.0200 | 0.112% |
5 | Mar 21, 2023 | Apr 27, 2023 | May 26, 2023 | $0.0200 | 0.197% |
FAQ
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