Franklin Universal Trust Stock Forecast
Stronger technical forecast for Franklin Universal Trust stock price after Thursday trading.
(Updated on May 23, 2024)
The Franklin Universal Trust stock price fell by -1.23% on the last day (Thursday, 23rd May 2024) from $6.89 to $6.80. During the last trading day the stock fluctuated 1.03% from a day low at $6.80 to a day high of $6.87. The price has been going up and down for this period, and there has been a -0.37% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -28 thousand shares and in total, 25 thousand shares were bought and sold for approximately $170.73 thousand.
The stock lies in the middle of a weak 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 5.44% during the next 3 months and, with a 90% probability hold a price between $6.88 and $7.30 at the end of this 3-month period.
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FT Signals & Forecast
The Franklin Universal Trust stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $6.86. On a fall, the stock will find some support from the long-term average at approximately $6.66. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, May 21, 2024, and so far it has fallen -1.59%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The stock had a Golden Star Signal on Tuesday, March 26, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, March 26, 2024.
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 Tuesday, March 26, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, March 26, 2024.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 Tuesday, March 26, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, March 26, 2024.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 Franklin Universal Trust stock
Franklin Universal Trust finds support from accumulated volume at $6.60 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0700 between high and low, or 1.03%. For the last week the stock has had daily average volatility of 0.777%
Our recommended stop-loss: $6.53 (-3.96%) (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 (FT) For The Upcoming Trading Day Of Friday 24th
For the upcoming trading day on Friday, 24th we expect Franklin Universal Trust to open at $6.82, and during the day (based on 14 day Average True Range), to move between $6.74 and $6.86, which gives a possible trading interval of +/-$0.0602 (+/-0.89%) up or down from last closing price. If Franklin Universal Trust takes out the full calculated possible swing range there will be an estimated 1.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.83 (0.37%) than the support at $6.60 (2.94%), 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 Franklin Universal Trust 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 Franklin Universal Trust 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: 1.512 Buy Candidate Upgraded
Predicted Opening Price for Franklin Universal Trust of Friday, May 24, 2024
Fair opening price May 24, 2024 | Current price |
---|---|
$6.82 ( 0.343%) | $6.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.89 | 1.37 % | |
R2 | 6.87 | 0.98 % | ||
R1 | 6.85 | 0.736 % | ||
Current price: | 6.80 | |||
Support | S1 | 6.80 | -0.0501 % | |
S2 | 6.78 | -0.293 % | ||
S3 | 6.75 | -0.686 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.91 | 1.62 % | |
R2 | 6.89 | 1.25 % | ||
R1 | 6.83 | 0.372 % | ||
Current price | 6.80 | |||
Support | S1 | 6.60 | -2.94% | |
S2 | 6.50 | -4.41% | ||
S3 | 6.47 | -4.85% |
FT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 16, 2024 | May 16, 2024 | May 31, 2024 | $0.0425 | 0.624% |
2 | Apr 16, 2024 | Apr 16, 2024 | Apr 30, 2024 | $0.0425 | 0.649% |
3 | Mar 07, 2024 | Mar 18, 2024 | Mar 28, 2024 | $0.0425 | 0.640% |
4 | Feb 08, 2024 | Feb 16, 2024 | Feb 29, 2024 | $0.0425 | 0.656% |
5 | Jan 08, 2024 | Jan 18, 2024 | Jan 31, 2024 | $0.0425 | 0.650% |
FAQ
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