Firan Technology Group Corporation Stock Forecast
Firan Technology Group Corporation stock upgraded to Buy Candidate.
(Updated on May 10, 2024)
The Firan Technology Group Corporation stock price fell by -1.10% on the last day (Friday, 10th May 2024) from $5.44 to $5.38. During the last trading day the stock fluctuated 1.30% from a day low at $5.37 to a day high of $5.44. The price has risen in 6 of the last 10 days and is up by 6.11% over the past 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 -6 thousand shares and in total, 5 thousand shares were bought and sold for approximately $26.63 thousand.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Firan Technology Group Corporation stock with a 90% probability to be traded between $4.88 and $5.93 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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FTG.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 8.91%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Firan Technology Group Corporation 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 $5.43. On a fall, the stock will find some support from the short-term average at $5.21. 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. 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 very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Firan Technology Group Corporation stock
Firan Technology Group Corporation finds support from accumulated volume at $5.31 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 $0.0700 between high and low, or 1.30%. For the last week the stock has had daily average volatility of 3.87%.
Our recommended stop-loss: $5.14 (-4.43%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (FTG.TO) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Firan Technology Group Corporation to open at $5.40, and during the day (based on 14 day Average True Range), to move between $5.19 and $5.57, which gives a possible trading interval of +/-$0.188 (+/-3.49%) up or down from last closing price. If Firan Technology Group Corporation takes out the full calculated possible swing range there will be an estimated 6.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.31 (1.30%) than the resistance at $5.65 (5.02%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Firan Technology Group Corporation stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Firan Technology Group Corporation stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.192 Buy Candidate Upgraded
Predicted Opening Price for Firan Technology Group Corporation of Monday, May 13, 2024
Fair opening price May 13, 2024 | Current price |
---|---|
$5.40 ( 0.310%) | $5.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FTG.TO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.47 | 1.61 % | |
R2 | 5.44 | 1.11 % | ||
R1 | 5.42 | 0.81 % | ||
Current price: | 5.38 | |||
Support | S1 | 5.37 | -0.187 % | |
S2 | 5.35 | -0.494 % | ||
S3 | 5.33 | -0.99 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.01 | 11.71 % | |
R2 | 5.90 | 9.67 % | ||
R1 | 5.65 | 5.02 % | ||
Current price | 5.38 | |||
Support | S1 | 5.31 | -1.30% | |
S2 | 5.05 | -6.13% | ||
S3 | 5.00 | -7.06% |
FAQ
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