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FLEETCOR Technologies, Inc. (FLT)

FLT stock forecast: buy or sell

Close on Sep 29th, 2020
$240.75 0.00%
3 months performance
-0.04%
Published: September 29th, 2020 - 4.56pm EDT

FLT stock outlook

  • FleetCor Technologies closed today at $240.75 after barely changing a -0.4%.
  • In early June price started slicing and printed 2 consecutive lower tops. shares price lost a -15.29% since the downtrend started.
  • FLEETCOR Technologies, Inc. operates as a business payments company that simplifies the way businesses manage and pay expenses.

Important:
The thoughts contained in this article are personal and should not be followed as recommendations for you to buy or sell shares. The author of this report does not have an understanding of the particular circumstances of the reader, his or her own financial statements or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Thoughts are published for learning reasons only

FLT stock charts

Should I buy FleetCor Technologies stock?

Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best

Is FLT stock a buy?

Currently, FleetCor Technologies stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean FLT will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems

Should I sell FleetCor Technologies stock?

Knowing when to sell a stock is even more difficult than knowing when to buy it. Just as when we have to buy shares, determining when is the best time to sell is not a random decision, and we must use our own trading strategy. When selling, as well as buying, our setups are very simple to use but are only valid for selling shares you already own, not for selling short FleetCor Technologies stock

A golden rule is that you should never keep a trade that generates greater losses than those expected upon purchase. When to sell your stock should always be dictated by the stop-loss (automatic or manual)

Is it time to sell FleetCor Technologies stock?

In the current situation of FleetCor Technologies there is not any eligible sell setup, so FleetCor Technologies stock holders with operations in profit can keep their positions

Analysts' recommendations to buy or sell FleetCor Technologies stock

Brokerage firms and financial institutions post stock ratings based on their views of the market and the fundamental and technical situation of the analyzed stock. Unfortunately, the accuracy of these predictions is not very high, and certainly not a direct buy or sell signal

In the last month, 2 analyst ratings were published for FleetCor Technologies

FleetCor Technologies ratings

Brokerage firmRating
Aug 31st, 2020
Deutsche Bank Strong buy
Sep 21st, 2020
Susquehanna Bancshares Neutral

Technical analysis

FleetCor Technologies accumulates a price drop of -15.29% since its latest top early June at $284.21. Like in all downtrends, the stock oscillates drawing lower tops and bottoms. In this case, we have seen 3 consecutive lower tops

SMAs overview

A favorite tool of many trading systems are the moving averages, that easily show trend direction. A moving average is the average price of a stock over a set period of time. Moving averages are usually calculated on different periods depending on the trading timeframe 21, 50, 100 and 200 days are the most usual moving averages

FLT SMAs chart

Supports and resistances

Technical analysts use supports and resistances to identify price points on a chart that may behave as obstacles, containing the price of an asset to move up or down. A support level is a level where the price may stop as it falls. Price is more likely to "rebound" this level rather than break through it. Nevertheless, if the price breaks down the support, it is likely to continue falling until finding another support level. On the other hand, resistance levels are where the price tends to find resistance as it rises. Again, the price is more likely to "rebound" at this level, and if it finally ruptures this level, the price will climb easily until it meets the next resistance

The current resistances are:

  • R1: $257.11 (6.8% above)
  • R2: $264.93 (10.04% above)
  • R3: $268.35 (11.46% above)
  • The current support levels are:

  • S1: $238.60 (-0.89% below)
  • S2: $237.74 (-1.25% below)
  • S3: $237.09 (-1.52% below)
  • Bollinger bands

    So-called Bollinger bands are a popular practice introduced by John Bollinger. The Bollinger Bands are bands that fluctuate around a centralmoving average and vary the distance from the bottom to the top depending on market volatility. They are usually drawn by an interval of two standard deviations, above and below, from a moving average line. Bollinger himself recommends the moving average period to be 20

    FLT RSI chart

    Relative strength index

    The RSI (Relative Strength Index) is an oscillator-type indicator that gauges price movements to reveal when the share or financial asset is overbought or oversold. Like other oscillation indicators, the RSI fluctuates between 0 and 100. The relative strength indicator is one of the best known and most widely used indicators, invented by J. Welles Wilder in the late 1970s

    The RSI has been between the overbought and oversold zones for several weeks, and therefore, without this indicator really being of any help to us in making any decisions.

    FLT RSI chart

    Earnings and financials

    2nd-quarter earnings call was hosted by FLT in early August after presenting the earnings report. FLT posted Q2 earnings of $2.28 per share on revenue of $525.1 million. The Wall St estimate was $2.17 per share on revenue of $525.4 million.

    This compares to earnings of $2.85 per share same quarter last year, so current EPS is a loss of -20%. Looking at turnover, figures sank a -18.85% compared to $647.1M same quarter 12 months ago.

    FLT is releasing quarterly earnings report on early next November. Expected per-share earnings of %s for this quarter is $2.68. If you hold or you are considering buying FLT shares, you must be aware that the earnings reporting day usually has a higher than usual volatility, and price can gap up or down with exceptionally low liquidity and not honouring your buy/stop-loss orders. It's always good to review company's website to confirm time and details about the earnings call and the earnings report.

    FLT revenues and profits chart