FLTR Stock Price Prediction: Will Sellers Dominate the Price?

• The FLTR stock price is trading at 14420 GBX.
• The price is in a downtrend and is reflecting bearish sentiment.

FLTR Plc (LSE: FLTR) was founded in 1988. It is an international betting and gambling company. This firm deals in the online business of betting and gaming. The company operates through the following segments, which are UK and Ireland, Australia, International, and US.

Flutter Entertainment (FLTR) Stock: Financial Analysis

Flutter Entertainment has been performing well in its revenue as the company showed an overall growth of 0.46%. 

The company’s operating expense indicated that the firm is spending less than its earnings over the last three years. 

Its total debts have increased to 5.98 Billion GBP in 2022 from 3.84 Billion GBP in 2021.

The company didn’t pay any dividends for the last three years.

Flutter Entertainment can generate more and more revenue every year, but the other variables factors are declining. It indicates the company is not profitable now. It may take some time for the firm to reach the break-even point.

Flutter Entertainment (FLTR) Stock: Technical Analysis

The price of FLTR stock formed support at 11375 GBX at the start of 2023 and commenced a bullish rally. The price moving up in a parallel channel.

In April 2023, the price tried to give the breakout of the parallel channel. As soon as the price gave the breakout, it faced immediate rejection. The stock went back to the parallel channel. This resulted in a breakout that turned into a fakeout and formed a long wick candle. It continued to move in the upward direction inside the parallel channel.

In June 2023, the price gave the breakdown of the parallel channel and got stuck in a narrow range of 15165 GBX to 16140 GBX. The very next month the price tried to provide the breakdown of the range. It again faced an immediate rejection and went back inside the range.

In August 2023, the breakdown finally occurred and the price started to fall after retesting the 15165 GBX support. It was falling to the 13325 GBX support. After reaching the support, the price bounced back to the 14400 GBX level.

Currently, the price is trading just above the 14400 GBX level. If it comes below the 14400 rejection and forms a solid bearish candle, it may fall to its next support at 12325 GBX.

However, if the price reclaims the 15165 GBX resistance, it may rise to the 16140 GBX level.

Technical Indicators’ Prediction About the Current Trend

The 50-ema (yellow line) is at 14695 GBX and the 200-ema (red line) is at 14005 GBX. The price of FLTR is currently trading between the 50 and 200 ema line. It is an indication that the price is indecisive.

The relative strength index is at 50.37. The RSI line is at a neutral state, which indicates the price’s presence in a neutral territory.

Conclusion

The Flutter Entertainment Plc stock is bearish overall. Neutral stock value has occurred because the price is taking pressure from the buyers as well as sellers. All the indicators mentioned above are for the trend analysis of the price. They also indicate that the price is being neutral at the time of writing.

Technical levels

Resistance levels: 15165 GBX and 16140 GBX.

Support levels: 13315 GBX and 12325 GBX.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.