Foresight Autonomous Holdings Ltd. Stock Forecast

Foresight Autonomous Holdings Ltd. stock downgraded from Hold/Accumulate to Sell Candidate after Monday trading session.
(Updated on May 06, 2024)

FRSX Signals & Forecast

There are few to no technical positive signals at the moment. The Foresight Autonomous Holdings 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 $1.07 and $1.10. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -1.83%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Foresight Autonomous Holdings Ltd. stock

Foresight Autonomous Holdings Ltd. finds support from accumulated volume at $1.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0500 between high and low, or 4.76%. For the last week the stock has had daily average volatility of 6.25%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (FRSX) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Foresight Autonomous Holdings Ltd. to open at $1.07, and during the day (based on 14 day Average True Range), to move between $1.00 and $1.14, which gives a possible trading interval of +/-$0.0722 (+/-6.74%) up or down from last closing price. If Foresight Autonomous Holdings Ltd. takes out the full calculated possible swing range there will be an estimated 13.49% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $1.05 (1.87%) than the resistance at $1.17 (9.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Foresight Autonomous Holdings Ltd. stock A Buy?

The Foresight Autonomous Holdings Ltd. stock holds several negative signals and despite the positive trend, we believe Foresight Autonomous Holdings 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: -2.977 Sell Candidate Downgraded

Predicted Opening Price for Foresight Autonomous Holdings Ltd. of Tuesday, May 7, 2024

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