Flowtech Fluidpower plc Stock Forecast
Flowtech Fluidpower plc stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Apr 18, 2024)
The Flowtech Fluidpower plc stock price gained 2.09% on the last trading day (Thursday, 18th Apr 2024), rising from £95.60 to £97.60. During the last trading day the stock fluctuated 5.10% from a day low at £94.20 to a day high of £99.00. The price has risen in 6 of the last 10 days and is up by 14.69% 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, 79 thousand more shares were traded than the day before. In total, 102 thousand shares were bought and sold for approximately £9.94 million.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at £100.39 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 18.06% during the next 3 months and, with a 90% probability hold a price between £94.17 and £118.52 at the end of this 3-month period.
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FLO.L Signals & Forecast
The Flowtech Fluidpower 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 £97.10 and £85.48. 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 Wednesday, April 10, 2024, and so far it has fallen -1.31%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Flowtech Fluidpower plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £84.00 and £82.50. 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, Flowtech Fluidpower plc finds support just below today's level at £84.00. If this is broken, then the next support from accumulated volume will be at £82.50 and £78.00.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £4.80 between high and low, or 5.10%. For the last week, the stock has had daily average volatility of 4.11%.
The Flowtech Fluidpower plc stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: £93.94 (-3.75%) (This stock has high daily movements and this gives high risk. The RSI14 is 81 and this increases the risk substantially. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (FLO.L) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Flowtech Fluidpower plc to open at £96.93, and during the day (based on 14 day Average True Range), to move between £93.85 and £101.35, which gives a possible trading interval of +/-£3.75 (+/-3.84%) up or down from last closing price. If Flowtech Fluidpower plc takes out the full calculated possible swing range there will be an estimated 7.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £98.00 (0.41%) than the support at £84.00 (13.93%), 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 Flowtech Fluidpower 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 Flowtech Fluidpower 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: 3.620 Buy Candidate Upgraded
Predicted Opening Price for Flowtech Fluidpower plc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| £96.93 ( 0.683%) | £97.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FLO.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 101.73 | 4.23 % | |
| R2 | 99.90 | 2.36 % | ||
| R1 | 98.77 | 1.20 % | ||
| Current price: | 97.60 | |||
| Support | S1 | 95.10 | -2.56 % | |
| S2 | 93.97 | -3.72 % | ||
| S3 | 92.13 | -5.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 98.90 | 1.33 % | ||
| R1 | 98.00 | 0.410 % | ||
| Current price | 97.60 | |||
| Support | S1 | 84.00 | -13.93% | |
| S2 | 82.50 | -15.47% | ||
| S3 | 78.00 | -20.08% |
FLO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 20, 2024 | Jun 20, 2024 | Jul 19, 2024 | £2.20 | 2.25% |
| 2 | Jun 22, 2023 | Jun 22, 2023 | Jun 22, 2023 | £2.10 | 2.00% |
| 3 | Mar 29, 2022 | Jun 30, 2022 | Jul 22, 2022 | £2.00 | 1.70% |
| 4 | Sep 24, 2019 | Oct 03, 2019 | Oct 29, 2019 | £2.13 | 1.85% |
| 5 | Apr 16, 2019 | Jun 06, 2019 | Jul 12, 2019 | £4.04 | 3.00% |
FAQ
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