Franklin Electric Co. Stock Forecast
Green day on Thursday for Franklin Electric Co.
(Updated on Mar 28, 2024)
The Franklin Electric Co. stock price gained 0.159% on the last trading day (Thursday, 28th Mar 2024), rising from $106.64 to $106.81. It has now gained 3 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 1.22% from a day low at $106.55 to a day high of $107.85. The price has risen in 7 of the last 10 days and is up by 5.76% 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, 59 thousand more shares were traded than the day before. In total, 194 thousand shares were bought and sold for approximately $20.76 million.
The stock has broken the narrow and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $106.69, a level that may pose a second chance to hit a runner. According to fan-theory $111.30 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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FELE Signals & Forecast
Mostly positive signals in the chart today. The Franklin Electric Co. 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 $105.21 and $101.62. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 13, 2024, and so far it has risen 11.74%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Franklin Electric Co. stock
Franklin Electric Co. finds support from accumulated volume at $103.96 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.30 between high and low, or 1.22%. For the last week the stock has had daily average volatility of 1.38%.
Our recommended stop-loss: $103.07 (-3.50%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (FELE) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Franklin Electric Co. to open at $107.07, and during the day (based on 14 day Average True Range), to move between $105.02 and $108.60, which gives a possible trading interval of +/-$1.79 (+/-1.68%) up or down from last closing price. If Franklin Electric Co. takes out the full calculated possible swing range there will be an estimated 3.36% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $103.96, some $2.85 (2.67%) from the current price of $106.81, our system finds the risk reward attractive.
Is Franklin Electric Co. stock A Buy?
Franklin Electric Co. holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.281 Strong Buy Candidate Unchanged
Predicted Opening Price for Franklin Electric Co. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$107.07 ( 0.243%) | $106.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FELE
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 108.37 | 1.46 % | |
R2 | 107.87 | 1.00 % | ||
R1 | 107.57 | 0.708 % | ||
Current price: | 106.81 | |||
Support | S1 | 106.57 | -0.222 % | |
S2 | 106.27 | -0.509 % | ||
S3 | 105.77 | -0.97 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 106.81 | |||
Support | S1 | 103.96 | -2.67% | |
S2 | 100.28 | -6.11% | ||
S3 | 99.12 | -7.20% |
FELE Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 31, 2024 | Jan 31, 2024 | Feb 15, 2024 | $0.250 | 0.249% |
2 | Oct 23, 2023 | Nov 01, 2023 | Nov 16, 2023 | $0.225 | 0.253% |
3 | Jul 24, 2023 | Aug 02, 2023 | Aug 17, 2023 | $0.225 | 0.243% |
4 | Apr 24, 2023 | May 03, 2023 | May 18, 2023 | $0.225 | 0.240% |
5 | Jan 23, 2023 | Feb 01, 2023 | Feb 16, 2023 | $0.225 | 0.237% |
FAQ
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