Friedman Industries Incorporated Stock Forecast
Friedman Industries Incorporated stock price ended at $19.00 on Thursday, after gaining 1.01%.
(Updated on Apr 18, 2024)
The Friedman Industries Incorporated stock price gained 1.01% on the last trading day (Thursday, 18th Apr 2024), rising from $18.81 to $19.00. During the last trading day the stock fluctuated 5.51% from a day low at $18.33 to a day high of $19.34. The price has risen in 5 of the last 10 days but is still down by -0.52% for this period. Volume fell on the last day by -19 thousand shares and in total, 10 thousand shares were bought and sold for approximately $186.03 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 lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 14.43% during the next 3 months and, with a 90% probability hold a price between $20.00 and $23.51 at the end of this 3-month period.
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FRD Signals & Forecast
The Friedman Industries Incorporated 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 $19.03. On a fall, the stock will find some support from the long-term average at approximately $18.40. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Friday, April 12, 2024, and so far it has fallen -1.61%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Friedman Industries Incorporated stock
On the downside, the stock finds support just below today's level from accumulated volume at $17.05 and $16.60. 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, Friedman Industries Incorporated finds support just below today's level at $17.05. If this is broken, then the next support from accumulated volume will be at $16.60 and $16.48.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $1.01 between high and low, or 5.51%. For the last week the stock has had daily average volatility of 3.66%.
Our recommended stop-loss: $18.25 (-3.93%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (FRD) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Friedman Industries Incorporated to open at $18.89, and during the day (based on 14 day Average True Range), to move between $18.31 and $19.69, which gives a possible trading interval of +/-$0.688 (+/-3.62%) up or down from last closing price. If Friedman Industries Incorporated takes out the full calculated possible swing range there will be an estimated 7.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $19.10 (0.53%) than the support at $17.05 (10.26%), 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 Friedman Industries Incorporated 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 Friedman Industries Incorporated stock to perform well in the short-term.
Current score: 3.971 Buy Candidate Unchanged
Predicted Opening Price for Friedman Industries Incorporated of Friday, April 19, 2024
Fair opening price April 19, 2024 | Current price |
---|---|
$18.89 ( 0.579%) | $19.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FRD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 19.90 | 4.74 % | |
R2 | 19.51 | 2.71 % | ||
R1 | 19.28 | 1.45 % | ||
Current price: | 19.00 | |||
Support | S1 | 18.50 | -2.61 % | |
S2 | 18.27 | -3.86 % | ||
S3 | 17.88 | -5.89 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 19.31 | 1.63 % | |
R2 | 19.30 | 1.58 % | ||
R1 | 19.10 | 0.526 % | ||
Current price | 19.00 | |||
Support | S1 | 17.05 | -10.26% | |
S2 | 16.60 | -12.63% | ||
S3 | 16.48 | -13.26% |
FRD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 20, 2024 | Apr 25, 2024 | May 24, 2024 | $0.0400 | 0.212% |
2 | Dec 13, 2023 | Jan 18, 2024 | Feb 16, 2024 | $0.0200 | 0.117% |
3 | Sep 13, 2023 | Oct 19, 2023 | Nov 10, 2023 | $0.0200 | 0.175% |
4 | Jun 20, 2023 | Jul 20, 2023 | Aug 11, 2023 | $0.0200 | 0.112% |
5 | Mar 21, 2023 | Apr 27, 2023 | May 26, 2023 | $0.0200 | 0.197% |
FAQ
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