Fortive Corp Stock Forecast
Red day on Thursday for Fortive Corp stock after losing 0.0249%
(Updated on Apr 18, 2024)
The Fortive Corp stock price fell by -0.0249% on the last day (Thursday, 18th Apr 2024) from $80.20 to $80.18. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 1.39% from a day low at $80.05 to a day high of $81.16. The price has fallen in 8 of the last 10 days and is down by -4.29% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -286 thousand shares and in total, 1 million shares were bought and sold for approximately $118.06 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $79.28 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 8.43% during the next 3 months and, with a 90% probability hold a price between $85.96 and $97.85 at the end of this 3-month period.
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FTV Signals & Forecast
There are few to no technical positive signals at the moment. The Fortive Corp stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $81.74 and $84.40. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, February 28, 2024, and so far it has fallen -7.08%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Fortive Corp stock
Fortive Corp finds support from accumulated volume at $78.18 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.11 (1.39%) between high and low. For the last week, the stock has had daily average volatility of 1.64%.
Fortive Corp is oversold on RSI14 (12). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FTV) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Fortive Corp to open at $80.46, and during the day (based on 14 day Average True Range), to move between $78.87 and $81.49, which gives a possible trading interval of +/-$1.31 (+/-1.63%) up or down from last closing price. If Fortive Corp takes out the full calculated possible swing range there will be an estimated 3.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $78.18 (2.49%) than the resistance at $82.23 (2.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Fortive Corp will release earnings BMO on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.790. We will update the financials statements for Fortive Corp, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.52% in the first trading day after earnings release.
Is Fortive Corp stock A Buy?
The Fortive Corp stock holds several negative signals and despite the positive trend, we believe Fortive Corp will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.076 Sell Candidate Unchanged
Predicted Opening Price for Fortive Corp of Friday, April 19, 2024
Fair opening price April 19, 2024 | Current price |
---|---|
$80.46 ( 0.353%) | $80.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FTV
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 81.57 | 1.74 % | |
R2 | 81.15 | 1.21 % | ||
R1 | 80.89 | 0.88 % | ||
Current price: | 80.18 | |||
Support | S1 | 80.04 | -0.175 % | |
S2 | 79.78 | -0.502 % | ||
S3 | 79.35 | -1.03 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 86.20 | 7.51 % | |
R2 | 86.02 | 7.28 % | ||
R1 | 82.23 | 2.56 % | ||
Current price | 80.18 | |||
Support | S1 | 78.18 | -2.49% | |
S2 | 74.70 | -6.83% | ||
S3 | 73.74 | -8.03% |
FTV Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 04, 2024 | May 31, 2024 | Jun 28, 2024 | $0.0800 | 0.0998% |
2 | Jan 23, 2024 | Feb 22, 2024 | Mar 28, 2024 | $0.0800 | 0.0930% |
3 | Nov 02, 2023 | Nov 22, 2023 | Dec 29, 2023 | $0.0800 | 0.109% |
4 | Aug 17, 2023 | Aug 31, 2023 | Sep 29, 2023 | $0.0700 | 0.0944% |
5 | Apr 06, 2023 | May 25, 2023 | Jun 30, 2023 | $0.0700 | 0.0936% |
FAQ
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