Flotek Industries Inc Forecast and Stock Analysis
Technical FTK stock analysis for March 15, 2019.
|Shorts||9.64% ( 2019-02-28 )|
Flotek Industries Inc gained 3.19% in the last trading day, rising from $3.13 to $3.23 , and has now gained 4 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. The price has fallen in 5 of the last 10 days and is down by -6.1% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 79 438 more shares were traded than the day before. In total, 666 607 shares bought and sold for approximately $2.15 million.
Close price at the end of the last trading day (Friday, 15th Mar 2019) of the FTK stock was $3.23. This is 3.19% more than the trading day before Thursday, 14th Mar 2019.
During day the stock fluctuated 3.69% from a day low at $3.12 to a day high of $3.23.
30 day high of the FTK stock price was $3.48 and low was $2.62.
90 day high was $3.48 and low was $0.95.
52 week high for the Flotek Industries Inc - $6.77 and low - $0.95.
Flotek Industries Inc lies in the lower part of a very wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $3.08 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 117.65% during the next 3 months and, with 90% probability hold a price between $6.70 and $9.81 at the end of this period.
Only positive signals in the chart today. Flotek Industries Inc holds buy signals from both short- and long-term moving averages. In addition, 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 $3.09 and $2.92. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday March 11, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 53 and the stock is currently not being overbought or oversold
Support & Resistance
Flotek Industries Inc finds support from accumulated volume at $3.12.
This stock may move much during a 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 $0.12 between high and low, or 3.69%. For the last week, the stock has had a daily average volatility of 3.12%.
Our recommended stoploss: $3.09 (-4.39%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 4 days ago.)
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Evaluation: Strong Buy Candidate
Flotek Industries Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.