Futura Medical Stock Forecast
Futura Medical stock price ended at £35.45 on Friday, after gaining 0.141%.
(Updated on Apr 26, 2024)
The Futura Medical stock price gained 0.141% on the last trading day (Friday, 26th Apr 2024), rising from £35.40 to £35.45. During the last trading day the stock fluctuated 2.84% from a day low at £35.20 to a day high of £36.20. The price has fallen in 5 of the last 10 days and is down by -2.07% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 247 thousand shares were bought and sold for approximately £8.74 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Futura Medical stock with a 90% probability to be traded between £27.16 and £44.93 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
FUM.L Signals & Forecast
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 Futura Medical stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £35.56 and £38.37. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, February 19, 2024, and so far it has fallen -22.17%. 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 Futura Medical stock
On the downside, the stock finds support just below today's level from accumulated volume at £29.40 and £29.00. 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, Futura Medical finds support just below today's level at £29.40. If this is broken, then the next support from accumulated volume will be at £29.00 and £27.70.
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 £1.00 between high and low, or 2.84%. For the last week, the stock has had daily average volatility of 3.23%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FUM.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Futura Medical to open at £35.62, and during the day (based on 14 day Average True Range), to move between £33.51 and £37.39, which gives a possible trading interval of +/-£1.94 (+/-5.46%) up or down from last closing price. If Futura Medical takes out the full calculated possible swing range there will be an estimated 10.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £37.00 (4.37%) than the support at £29.40 (17.07%), 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 Futura Medical stock A Buy?
Futura Medical holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.173 Sell Candidate Unchanged
Predicted Opening Price for Futura Medical of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
£35.62 ( 0.470%) | £35.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FUM.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 36.62 | 3.29 % | |
R2 | 36.23 | 2.21 % | ||
R1 | 36.00 | 1.55 % | ||
Current price: | 35.45 | |||
Support | S1 | 35.23 | -0.607 % | |
S2 | 35.00 | -1.27 % | ||
S3 | 34.62 | -2.35 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 44.00 | 24.12 % | |
R2 | 38.80 | 9.45 % | ||
R1 | 37.00 | 4.37 % | ||
Current price | 35.45 | |||
Support | S1 | 29.40 | -17.07% | |
S2 | 29.00 | -18.19% | ||
S3 | 27.70 | -21.86% |
FAQ
Click here for our free guide on how to buy Futura Medical Stock.