Bearish Trend Analysis
The 10-day Indicator for FLGT moved out of overbought territory on January 14, 2021. This could be a sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 31 similar instances where the indicator moved out of overbought territory. In 29 of the 31 cases, the stock moved lower in the following days. This puts the odds of a move lower at 90%.
The Indicator demonstrated that the ticker has stayed in the overbought zone for 10 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where FLGT declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 80%.
FLGT broke above its upper on January 04, 2021. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.