FTV stock has been going up since May 2023, rising with buyers piling up. FTV stock price was at $77.56 with an intraday decrease of 1.39%. Moreover, the intraday trading volume of FTV is 1.419 Million lower than the 10-day aggregate volume of 1.784 Million.
Based on recent data, the revenue of the period ending in June 2023 was $1.526 Billion with a net income of 209.00 Million. Moreover, the FTV stock estimated EPS for the June‘23 period was 0.81, and the reported EPS was 0.85 which gave a positive surprise of 5.32%. Moreover, the forecasted EPS for the next quarter is positive at 0.85.
FTV is a good buy based on its earnings and debt. According to Simply Wall St., FTV has a lower price-to-earnings ratio (34.1x) than its peers (38.3x), which means it is cheaper relative to its earnings. FTV’s share price ($77.56) is also much lower than its fair value ($129.15), which means it is undervalued by more than 20%. FTV has improved its earnings growth from 7% per year in the past 5 years to 21.4% in the past year, as reported by Simply Wall St.
FTV has also reduced its debt-to-equity ratio from 65.4% to 29.9% in the past 5 years, and has enough cash flow and earnings to cover its debt and interest payments, according to Simply Wall St. Fortive Corp. is a financially sound and profitable company that offers a good opportunity for investors.
A week ago, the stock declared a dividend of $0.07 on August 31, 2023 and as seen in the previous sessions, the stock has reacted either by sell-off or by buying heavily. Since FTV stock has not reacted yet, a reaction is expected, and most likely, like the previous dividend on May 25th, 2023, a strong buy could push the prices higher.
Technical Analysis of FTV Stock Price in 1-D Timeframe
The price action shows that Fortive Corp. (NYSE: FTV) stock price took its major support from $62 in May with a swift uptrend and gave a streak of break of structures by making higher highs and lows.
At the time of publication, The FTV stock is trading near a critical level, where the supply zone is located. This is where the sellers are likely to be more active and exert downward pressure on the price. The price action at this level could determine the future direction of the stock.
There are two possible scenarios that could happen at this level. One is that the buyers will overcome the sellers and push the price higher, consuming the liquidity around the supply zone. This could lead to a strong uptrend and a rocket-like movement. The other is that the sellers will dominate the buyers and cause the price to drop sharply, breaking the support levels. This could result in a steep downtrend and a meteor-like fall.
Therefore, if Fortive fails to maintain the current level, the FTV price could continue to drag downwards and hit the nearest support levels around $76 and $71.
However, if the stock price sustains the current level and the Fortive price increases, then it might reach the nearest resistance levels of $80 and $85.
At the time of publishing, Li Auto Inc (NYSE: FTV) is trading above the major 20, and 50-day exponential moving averages (EMA), which is supporting the FTV price trend.
The current value of RSI is 50.31 points. The 14 SMA is below the median line at 53.51 points which indicates that Fortive stock is at the median line and the RSI line is intertwined with 14 SMA and as a result price is consolidating indicating neutral to bullishness.
The MACD line at 0.4332 and signal line at 0.5669 are below the zero line and both lines have narrowed towards each other. A bullish crossover is anticipated next in the MACD oscillator for the Fortive stock price.
Li Auto Inc (NYSE: FTV) indicates that the traders and investors of the stock price are neutral to bullish on the 1-D time frame. The price action shows uncertainty at the time of publishing. The technical analysis tools of Fortive stock price also support consolidation to bullishness. The EMA, RSI, and MACD highlight consolidation to upward signals in Fortive stock price.
- Support levels: $76 and $71
- Resistance levels: $80 and $85
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.