Franklin Universal Trust Stock Forecast
Green day on Thursday for Franklin Universal Trust stock after gaining 0.606%
(Updated on Mar 28, 2024)
The Franklin Universal Trust stock price gained 0.606% on the last trading day (Thursday, 28th Mar 2024), rising from $6.60 to $6.64. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.606% from a day low at $6.60 to a day high of $6.64. The price has risen in 8 of the last 10 days and is up by 2.15% 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, 11 thousand more shares were traded than the day before. In total, 79 thousand shares were bought and sold for approximately $523.28 thousand.
The stock has broken the narrow and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $6.56 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $6.78 sometime during the next 3 months.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
FT Signals & Forecast
The Franklin Universal Trust 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 $6.53 and $6.51. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, February 26, 2024, and so far it has risen 3.43%. Further rise is indicated until a new top pivot has been found. Franklin Universal Trust has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Tuesday, March 26, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, March 26, 2024.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, March 26, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, March 26, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, March 26, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, March 26, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Franklin Universal Trust stock
Franklin Universal Trust finds support from accumulated volume at $6.50 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0400 between high and low, or 0.606%. For the last week the stock has had daily average volatility of 0.692%.
Our recommended stop-loss: $6.27 (-5.61%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (FT) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Franklin Universal Trust to open at $6.63, and during the day (based on 14 day Average True Range), to move between $6.58 and $6.70, which gives a possible trading interval of +/-$0.0631 (+/-0.95%) up or down from last closing price. If Franklin Universal Trust takes out the full calculated possible swing range there will be an estimated 1.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.65 (0.15%) than the support at $6.50 (2.11%), 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 Franklin Universal Trust stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Franklin Universal Trust stock to perform well in the short-term period.
Current score: 1.269 Buy Candidate Unchanged
Predicted Opening Price for Franklin Universal Trust of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$6.63 ( 0.201%) | $6.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.67 | 0.402 % | |
R2 | 6.65 | 0.171 % | ||
R1 | 6.64 | 0.0293 % | ||
Current price: | 6.64 | |||
Support | S1 | 6.61 | -0.431 % | |
S2 | 6.60 | -0.573 % | ||
S3 | 6.59 | -0.80 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.70 | 0.87 % | |
R2 | 6.68 | 0.602 % | ||
R1 | 6.65 | 0.151 % | ||
Current price | 6.64 | |||
Support | S1 | 6.50 | -2.11% | |
S2 | 6.47 | -2.56% | ||
S3 | 6.45 | -2.86% |
FT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 07, 2024 | Mar 18, 2024 | Mar 28, 2024 | $0.0425 | 0.641% |
2 | Feb 08, 2024 | Feb 16, 2024 | Feb 29, 2024 | $0.0425 | 0.656% |
3 | Jan 08, 2024 | Jan 18, 2024 | Jan 31, 2024 | $0.0425 | 0.650% |
4 | Dec 15, 2023 | Dec 15, 2023 | Dec 29, 2023 | $0.0425 | 0.639% |
5 | Nov 07, 2023 | Nov 16, 2023 | Nov 30, 2023 | $0.0430 | 0.662% |
FAQ
Click here for our free guide on how to buy Franklin Universal Trust Stock.