Freehold Royalties Ltd. Stock Forecast
Stronger technical forecast for Freehold Royalties Ltd. stock price after Wednesday trading.
(Updated on Mar 27, 2024)
The Freehold Royalties Ltd. stock price gained 0.756% on the last trading day (Wednesday, 27th Mar 2024), rising from $14.55 to $14.66. During the last trading day the stock fluctuated 1.10% from a day low at $14.53 to a day high of $14.69. The price has risen in 7 of the last 10 days and is up by 2.73% 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, 62 thousand more shares were traded than the day before. In total, 256 thousand shares were bought and sold for approximately $3.76 million.
The stock lies in the upper part of a weak rising 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 $14.78 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 4.27% during the next 3 months and, with a 90% probability hold a price between $14.47 and $15.41 at the end of this 3-month period.
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FRU.TO Signals & Forecast
The Freehold Royalties 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 $14.60 and $14.06. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Friday, August 04, 2023 in the long-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 12 Months
The stock had a Golden Star Signal on Friday, August 04, 2023 in the long-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 Freehold Royalties Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $13.76 and $13.71. 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, Freehold Royalties Ltd. finds support just below today's level at $13.76. If this is broken, then the next support from accumulated volume will be at $13.71 and $13.66.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.160 (1.10%) between high and low. For the last week, the stock has had daily average volatility of 0.96%.
The Freehold Royalties Ltd. stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $14.16 (-3.38%) (This stock has low daily movements and this gives low risk. The RSI14 is 81 and this increases the risk substantially. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (FRU.TO) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Freehold Royalties Ltd. to open at $14.63, and during the day (based on 14 day Average True Range), to move between $14.46 and $14.86, which gives a possible trading interval of +/-$0.202 (+/-1.38%) up or down from last closing price. If Freehold Royalties Ltd. takes out the full calculated possible swing range there will be an estimated 2.75% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $13.76, some $0.90 (6.14%) from the current price of $14.66, our system finds the risk reward attractive.
Is Freehold Royalties Ltd. 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 Freehold Royalties Ltd. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.188 Buy Candidate Upgraded
Predicted Opening Price for Freehold Royalties Ltd. of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$14.63 ( 0.227%) | $14.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FRU.TO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14.79 | 0.86 % | |
R2 | 14.73 | 0.447 % | ||
R1 | 14.69 | 0.190 % | ||
Current price: | 14.66 | |||
Support | S1 | 14.57 | -0.644 % | |
S2 | 14.53 | -0.90 % | ||
S3 | 14.47 | -1.32 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 14.66 | |||
Support | S1 | 13.76 | -6.14% | |
S2 | 13.71 | -6.48% | ||
S3 | 13.66 | -6.82% |
FRU Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 28, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.0900 | 0.613% |
2 | Feb 15, 2024 | Feb 28, 2024 | Mar 15, 2024 | $0.0900 | 0.627% |
3 | Jan 30, 2024 | Jan 30, 2024 | Feb 15, 2024 | $0.0900 | 0.656% |
4 | Dec 14, 2023 | Dec 28, 2023 | Jan 15, 2024 | $0.0900 | 0.630% |
5 | Nov 08, 2023 | Nov 29, 2023 | Dec 15, 2023 | $0.0900 | 0.674% |
FAQ
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