FORTUNE RISE ACQUISITION COR (FRLA) Stock Technical Analysis
NASDAQ:FRLA - Nasdaq - US34969G1022 - Common Stock - Currency: USD
Overall FRLA gets a technical rating of 5 out of 10. Although FRLA is a bad performer in the overall market, the technical picture looks good in both the medium and short term time frames.
When comparing the yearly performance of all stocks, FRLA is a bad performer in the overall market: 67% of all stocks are doing better.
Warning: FRLA has an average volume of 12770 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
FRLA is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so FRLA is lagging the market slightly.
In the last month FRLA has a been trading in a tight range between 11.35 and 11.44.
Considerably lower volume is observed in the last couple of days.
FRLA has an average technical rating and the quality of the presented setup is also not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
10.55
11.56
3 important support areas can be observed.
- A support zone ranging from 11.19 to 11.40. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @10.94 from a horizontal line in the daily time frame.
- Support @10.66 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 11.45 to 11.45. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for FRLA is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for FRLA is neutral. |
| ChartMill Relative Strength | 33.55 | NEUTRAL | FRLA is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of FRLA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of FRLA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of FRLA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 59.48 | NEUTRAL | The RSI value for FRLA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests FRLA has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 66.7 | NEUTRAL | The Stochastics value for FRLA is a neutral value. |
| Average True Range in percent/ATR (20) | 0.28 | LOW VOLATILITY | The low ATR as a percentage value for FRLA suggests low volalility. |
| Average Directional Index/ADX (14) | 46.51 | POSITIVE | The high ADX value value for FRLA suggests a strong trend. |
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)
NASDAQ:FRLA (11/1/2024, 8:02:41 PM)
11.44
+0.09 (+0.79%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg0.79%
1 Week0.44%
2 Weeks0.38%
1 Month0.79%
3 Month1.6%
6 Month2.42%
12 Month6.22%
2 Year11.94%
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.04
ATR(20)%0.28%
ATR Inc236.62%
Range Today0
ADR(20)0.02
ADR(20)%0.14%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS33.55
Mansfield-1
10 Day High11.44
10 Day Low11.35
20 Day High11.44
20 Day Low11.35
52 Week High11.87
52 Week Low10.76
CS1 End11.4
CR1 Start11.45
Volume & EV
DER(3)0%
DER(5)0%
Volume500
Volume Incr-93.78%
Vol(5)760
Vol(50)12.77K