FORIAN INC (FORA)

US34630N1063 - Common Stock

3.32  +0.12 (+3.75%)

After market: 3.5 +0.18 (+5.42%)

Technical Rating and Analysis

6

Taking everything into account, FORA scores 6 out of 10 in our technical rating. Although FORA is a bad performer in the overall market, the technical picture looks good in both the medium and short term time frames.

63% of all other stocks performed better in the past year than FORA.
Warning: FORA has an average volume of 28604 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
FORA is one of the better performing stocks in the Health Care Technology industry, it outperforms 74% of 40 stocks in the same industry.
FORA is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so FORA is lagging the market.
In the last month FORA has a been trading in the 2.62 - 4.15 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Volume is considerably higher in the last couple of days.
Weekly and Daily overview Charts
FORA Weekly chart
FORA Daily chart
Setup Rating and Analysis

6

FORA has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price.

Support and Resistance Analysis

2.19

3.74

We found 7 important support areas.

  • A support zone ranging from 3.12 to 3.14. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • Support @3.06 from a horizontal line in the daily time frame.
  • A support zone ranging from 2.92 to 2.98. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • Support @2.77 from a trend line in the weekly time frame.
  • Support @2.67 from a trend line in the weekly time frame.
  • Support @2.54 from a horizontal line in the daily time frame.
  • Support @2.21 from a horizontal line in the daily time frame.

We can see 2 important resistance areas.

  • Resistance @3.60 from a horizontal line in the weekly time frame.
  • A resistance zone ranging from 3.69 to 3.70. This zone is formed by a combination of multiple trend lines in the daily time frame.
Statistics, Performance, Trends, Indicators, Chart- and CandleStick Patterns
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS37.69
Mansfield0.81
10 Day High3.75
10 Day Low3
20 Day High4.15
20 Day Low2.62
52 Week High4.15
52 Week Low1.85
Performance
1 Week3.43%
2 Weeks-5.14%
1 Month14.48%
3 Month13.5%
6 Month48.87%
12 Month-12.86%
2 Year-52.3%
3 Year-67.16%
5 YearN/A
10 YearN/A
15 YearN/A
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Technical Indicators
MACD(12,26,9)-0.03
RSI(14)55.42
LBB3.02
UBB3.68
Example Setup

Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.

ENTRYEXITDISTANCECAPITAL
3.613.110.50 (13.85%)7.22%
An entry @3.61. This is a Buy Stop order right above the resistance zone.An exit @3.11. This is a Stop Loss order right below the support zone.The trade has a worst case loss of 0.50 points, which is 13.85%.When investing 7.22% of your capital in this trade, your total portfolio risk will be 1.00%.

  • The distance between exit and entry is rather small compared to the average daily movement of FORA. Please evaluate whether better entry and exit points can be found.
  • The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
  • This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
FORA Daily chart

FORIAN INC

NASDAQ:FORA (3/28/2024, 8:10:54 PM)

After market: 3.5 +0.18 (+5.42%)

3.32

+0.12 (+3.75%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryHealth Care Technology
Performance
% Chg3.75%
1 Week3.43%
2 Weeks-5.14%
1 Month14.48%
3 Month13.5%
6 Month48.87%
12 Month-12.86%
2 Year
3 Year
5 Year
10 Year
15 Year
Volatility
ATR(14)0.44
ATR(20)%11.48%
ATR Inc
Range Today0.4
ADR(20)
ADR(20)%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS
Mansfield
10 Day High3.75
10 Day Low3
20 Day High4.15
20 Day Low2.62
52 Week High4.15
52 Week Low1.85
CS1 End
CR1 Start
Volume & EV
DER(3)
DER(5)
Volume36.80K
Volume Incr-24.15%
Vol(5)38.66K
Vol(50)28.60K