FirstService Corporation Stock Forecast

FSV Signals & Forecast

Mostly positive signals in the chart today. The FirstService Corporation 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 $140.16 and $129.22. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, December 20, 2022, and so far it has risen 19.61%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Tuesday, December 20, 2022 with a target of $142.31. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.

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Support, Risk & Stop-loss for FirstService Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $126.61 and $124.06. 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, FirstService Corporation finds support just below today's level at $126.61. If this is broken, then the next support from accumulated volume will be at $124.06 and $122.31.

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 $2.75 between high and low, or 1.95%. For the last week, the stock has had daily average volatility of 2.29%.

The FirstService Corporation stock is extremely overbought on RSI14 (77). 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: $138.65 (-3.00%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 25 days ago.)

Trading Expectations (FSV) For The Upcoming Trading Day Of Monday 30th

For the upcoming trading day on Monday, 30th we expect FirstService Corporation to open at $142.57, and during the day (based on 14 day Average True Range), to move between $139.64 and $146.24, which gives a possible trading interval of +/-$3.30 (+/-2.31%) up or down from last closing price. If FirstService Corporation takes out the full calculated possible swing range there will be an estimated 4.62% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $16.33 (11.42%) our system find the risk reward attractive.

Is FirstService Corporation stock A Buy?

FirstService Corporation holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.719 Open Broker Account

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