Fulgent Genetics Inc Stock Forecast
Fulgent Genetics Inc stock downgraded from Hold/Accumulate to Strong Sell Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Fulgent Genetics Inc stock price fell by -3.42% on the last day (Thursday, 25th Apr 2024) from $20.74 to $20.03. During the last trading day the stock fluctuated 3.92% from a day low at $19.97 to a day high of $20.75. The price has been going up and down for this period, and there has been a -4.94% loss for the last 2 weeks. Volume has increased on the last day by 30 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 179 thousand shares were bought and sold for approximately $3.58 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -21.80% during the next 3 months and, with a 90% probability hold a price between $14.69 and $16.82 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
FLGT Signals & Forecast
There are few to no technical positive signals at the moment. The Fulgent Genetics Inc 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 $20.36 and $21.51. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -15.63%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Wednesday, February 14, 2024 with a target of $23.87. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Fulgent Genetics Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.783 (3.92%) between high and low. For the last week, the stock has had daily average volatility of 2.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FLGT) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Fulgent Genetics Inc to open at $20.25, and during the day (based on 14 day Average True Range), to move between $19.43 and $20.63, which gives a possible trading interval of +/-$0.602 (+/-3.00%) up or down from last closing price. If Fulgent Genetics Inc takes out the full calculated possible swing range there will be an estimated 6.01% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $22.20, some $2.17 (10.83%) from the current price of $20.03, our system finds the risk reward not very attractive.
Earnings coming up
Fulgent Genetics Inc will release earnings BMO on Friday, May 03, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.330. We will update the financials statements for Fulgent Genetics Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.69% in the first trading day after earnings release.
Is Fulgent Genetics Inc stock A Buy?
Fulgent Genetics Inc holds several negative signals and is within a 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -5.056 Strong Sell Candidate Downgraded
Predicted Opening Price for Fulgent Genetics Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $20.25 ( 1.10%) | $20.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FLGT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.03 | 5.01 % | |
| R2 | 20.73 | 3.52 % | ||
| R1 | 20.55 | 2.60 % | ||
| Current price: | 20.03 | |||
| Support | S1 | 19.95 | -0.390 % | |
| S2 | 19.77 | -1.31 % | ||
| S3 | 19.47 | -2.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.41 | 16.85 % | |
| R2 | 22.56 | 12.63 % | ||
| R1 | 22.20 | 10.83 % | ||
| Current price | 20.03 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy Fulgent Genetics Inc Stock.
