frontdoor Inc. Stock Forecast
Weaker technical forecast for frontdoor Inc. as stock downgraded to Sell Candidate.
(Updated on Jun 21, 2024)
The frontdoor Inc. stock price gained 0.0564% on the last trading day (Friday, 21st Jun 2024), rising from $35.48 to $35.50. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.83% from a day low at $34.89 to a day high of $35.53. The price has been going up and down for this period, and there has been a -2.69% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $65.62 million.
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 19.26% during the next 3 months and, with a 90% probability hold a price between $40.69 and $46.09 at the end of this 3-month period.
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FTDR Signals & Forecast
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. The frontdoor Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $35.57. On a fall, the stock will find some support from the short-term average at $35.20. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -5.43%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for frontdoor Inc. stock
frontdoor Inc. finds support from accumulated volume at $34.02 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.640 (1.83%) between high and low. For the last week, the stock has had daily average volatility of 1.71%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FTDR) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect frontdoor Inc. to open at $35.31, and during the day (based on 14 day Average True Range), to move between $34.73 and $36.27, which gives a possible trading interval of +/-$0.774 (+/-2.18%) up or down from last closing price. If frontdoor Inc. takes out the full calculated possible swing range there will be an estimated 4.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $35.95 (1.27%) than the support at $34.02 (4.17%), 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 frontdoor Inc. stock A Buy?
frontdoor Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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 Buy to a Sell candidate.
Current score: -2.683 Sell Candidate Downgraded
Predicted Opening Price for frontdoor Inc. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $35.31 ( 0.545%) | $35.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FTDR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 35.95 | 1.26% |
| R2 | 35.70 | 0.570% |
| R1 | 35.55 | 0.144% |
| Price | 35.50 | |
| S1 | 35.06 | -1.23% |
| S2 | 34.91 | -1.66% |
| S3 | 34.67 | -2.35% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 37.54 | 5.75% |
| R2 | 36.60 | 3.10% |
| R1 | 35.95 | 1.27% |
| Price | 35.50 | |
| S1 | 34.02 | -4.17% |
| S2 | 31.05 | -12.54% |
| S3 | 30.69 | -13.55% |
FAQ
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