Frontier Developments Plc Stock Forecast
Frontier Developments Plc stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Apr 23, 2024)
The Frontier Developments Plc stock price gained 2.43% on the last trading day (Tuesday, 23rd Apr 2024), rising from £205.50 to £210.50. During the last trading day the stock fluctuated 3.96% from a day low at £203.92 to a day high of £212.00. The price has fallen in 5 of the last 10 days but is still up by 2.68% over the past 2 weeks. 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, 50 thousand shares were bought and sold for approximately £10.50 million.
The stock lies in the middle of a very 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 35.26% during the next 3 months and, with a 90% probability hold a price between £204.51 and £314.92 at the end of this 3-month period.
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FDEV.L Signals & Forecast
The Frontier Developments Plc 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 £207.41 and £162.69. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -6.44%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Frontier Developments Plc stock
Frontier Developments Plc finds support from accumulated volume at £209.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved £8.08 between high and low, or 3.96%. For the last week, the stock has had daily average volatility of 7.67%.
Our recommended stop-loss: £199.29 (-5.33%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (FDEV.L) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Frontier Developments Plc to open at £208.81, and during the day (based on 14 day Average True Range), to move between £194.28 and £226.72, which gives a possible trading interval of +/-£16.22 (+/-7.71%) up or down from last closing price. If Frontier Developments Plc takes out the full calculated possible swing range there will be an estimated 15.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £209.00 (0.71%) than the resistance at £212.50 (0.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Frontier Developments Plc 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 Frontier Developments Plc 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: 2.051 Buy Candidate Upgraded
Predicted Opening Price for Frontier Developments Plc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| £208.81 ( 0.80%) | £210.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FDEV.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 216.89 | 3.03 % | |
| R2 | 213.80 | 1.57 % | ||
| R1 | 211.89 | 0.662 % | ||
| Current price: | 210.50 | |||
| Support | S1 | 205.72 | -2.27 % | |
| S2 | 203.81 | -3.18 % | ||
| S3 | 200.73 | -4.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 225.00 | 6.89 % | |
| R2 | 215.00 | 2.14 % | ||
| R1 | 212.50 | 0.95 % | ||
| Current price | 210.50 | |||
| Support | S1 | 209.00 | -0.713% | |
| S2 | 184.40 | -12.40% | ||
| S3 | 160.80 | -23.61% |
FAQ
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