Flowserve Corporation Stock Forecast

Green day on Friday for Flowserve Corporation stock after gaining 0.373%
(Updated on Apr 19, 2024)

FLS Signals & Forecast

A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -4.36%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. The Flowserve Corporation 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 $46.23. On a fall, the stock will find some support from the long-term average at approximately $45.36. 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. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Flowserve Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $42.54 and $42.28. 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, Flowserve Corporation finds support just below today's level at $42.54. If this is broken, then the next support from accumulated volume will be at $42.28 and $41.84.

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 $0.624 between high and low, or 1.37%. For the last week the stock has had daily average volatility of 2.10%.

Our recommended stop-loss: $43.74 (-4.50%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)

Trading Expectations (FLS) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Flowserve Corporation to open at $45.81, and during the day (based on 14 day Average True Range), to move between $45.00 and $46.60, which gives a possible trading interval of +/-$0.797 (+/-1.74%) up or down from last closing price. If Flowserve Corporation takes out the full calculated possible swing range there will be an estimated 3.48% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $45.98 (0.39%) than the support at $42.54 (7.12%), 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 Flowserve Corporation 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: 1.865 Buy Candidate Unchanged

Predicted Opening Price for Flowserve Corporation of Monday, April 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.