Fairfax India Holdings Corp Stock Forecast
Green day on Tuesday for Fairfax India Holdings Corp stock after gaining 0.0542%
(Updated on Apr 23, 2024)
The Fairfax India Holdings Corp stock price gained 0.0542% on the last trading day (Tuesday, 23rd Apr 2024), rising from $14.77 to $14.78. During the last trading day the stock fluctuated 0.748% from a day low at $14.71 to a day high of $14.82. The price has risen in 5 of the last 10 days and is up by 0.54% over the past 2 weeks. Volume fell on the last day by -5 thousand shares and in total, 42 thousand shares were bought and sold for approximately $623.89 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Fairfax India Holdings Corp stock with a 90% probability to be traded between $14.26 and $15.24 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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FFXDF Signals & Forecast
A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -1.20%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Fairfax India Holdings Corp stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $14.82. On a fall, the stock will find some support from the long-term average at approximately $14.71. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal.
A sell signal from a double top formation was found on Monday, April 15, 2024 and based on theory for this formation the price should fall by -9.69% to $13.35 within 44 trading days since signal was issued (Wednesday, April 24, 2024).
Support, Risk & Stop-loss for Fairfax India Holdings Corp stock
Fairfax India Holdings Corp finds support from accumulated volume at $14.46 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.110 between high and low, or 0.748%. For the last week the stock has had daily average volatility of 1.01%
Our recommended stop-loss: $14.20 (-3.94%) (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 (FFXDF) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Fairfax India Holdings Corp to open at $14.77, and during the day (based on 14 day Average True Range), to move between $14.60 and $14.96, which gives a possible trading interval of +/-$0.182 (+/-1.23%) up or down from last closing price. If Fairfax India Holdings Corp takes out the full calculated possible swing range there will be an estimated 2.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.90 (0.81%) than the support at $14.46 (2.17%), 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 Fairfax India Holdings Corp stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 2.308 Buy Candidate Unchanged
Predicted Opening Price for Fairfax India Holdings Corp of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $14.77 ( 0.0677%) | $14.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FFXDF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.88 | 0.677 % | |
| R2 | 14.84 | 0.392 % | ||
| R1 | 14.81 | 0.217 % | ||
| Current price: | 14.78 | |||
| Support | S1 | 14.73 | -0.352 % | |
| S2 | 14.70 | -0.528 % | ||
| S3 | 14.66 | -0.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.95 | 1.18 % | |
| R2 | 14.95 | 1.15 % | ||
| R1 | 14.90 | 0.81 % | ||
| Current price | 14.78 | |||
| Support | S1 | 14.46 | -2.17% | |
| S2 | 14.30 | -3.25% | ||
| S3 | 14.05 | -4.94% |
FAQ
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