Finning International Inc. Stock Forecast
Finning International Inc. stock upgraded to Buy Candidate.
(Updated on May 07, 2024)
The Finning International Inc. stock price gained 3.45% on the last trading day (Tuesday, 7th May 2024), rising from $40.82 to $42.23. During the last trading day the stock fluctuated 3.76% from a day low at $41.14 to a day high of $42.69. The price has been going up and down for this period, and there has been a 0.26% gain 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, 127 thousand more shares were traded than the day before. In total, 492 thousand shares were bought and sold for approximately $20.77 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 26.27% during the next 3 months and, with a 90% probability hold a price between $51.38 and $56.62 at the end of this 3-month period.
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FTT.TO Signals & Forecast
The Finning International Inc. 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 $41.84 and $41.16. A breakdown below any of these levels will issue sell signals. 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 Monday, April 29, 2024, and so far it has fallen -3.85%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Finning International Inc. stock
Finning International Inc. finds support from accumulated volume at $40.79 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 $1.55 (3.76%) between high and low. For the last week, the stock has had daily average volatility of 3.13%.
Our recommended stop-loss: $40.10 (-5.04%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (FTT.TO) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Finning International Inc. to open at $42.02, and during the day (based on 14 day Average True Range), to move between $41.08 and $43.38, which gives a possible trading interval of +/-$1.15 (+/-2.71%) up or down from last closing price. If Finning International Inc. takes out the full calculated possible swing range there will be an estimated 5.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $42.30 (0.17%) than the support at $40.79 (3.41%), 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 Finning International Inc. 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 Finning International Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.371 Buy Candidate Upgraded
Predicted Opening Price for Finning International Inc. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $42.02 ( 0.501%) | $42.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FTT.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.56 | 3.16 % | |
| R2 | 42.97 | 1.76 % | ||
| R1 | 42.61 | 0.90 % | ||
| Current price: | 42.23 | |||
| Support | S1 | 41.43 | -1.90 % | |
| S2 | 41.06 | -2.76 % | ||
| S3 | 40.47 | -4.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.19 | 2.27 % | |
| R2 | 43.10 | 2.06 % | ||
| R1 | 42.30 | 0.166 % | ||
| Current price | 42.23 | |||
| Support | S1 | 40.79 | -3.41% | |
| S2 | 35.80 | -15.23% | ||
| S3 | 34.76 | -17.69% |
FTT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 06, 2024 | Feb 21, 2024 | Mar 07, 2024 | $0.250 | 0.698% |
| 2 | Nov 06, 2023 | Nov 22, 2023 | Dec 07, 2023 | $0.250 | 0.723% |
| 3 | Aug 08, 2023 | Aug 23, 2023 | Sep 07, 2023 | $0.250 | 0.583% |
| 4 | May 08, 2023 | May 24, 2023 | Jun 08, 2023 | $0.250 | 0.635% |
| 5 | Feb 06, 2023 | Feb 22, 2023 | Mar 09, 2023 | $0.236 | 0.677% |
FAQ
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