PhotoMedex Fund Forecast
Big movements in PhotoMedex fund price on Tuesday moving 11.43% between high and low
(Updated on Oct 31, 2017)
The PhotoMedex fund price fell by -6.96% on the last day (Tuesday, 31st Oct 2017) from $1.15 to $1.07. During the last trading day the fund fluctuated 11.43% from a day low at $1.05 to a day high of $1.17. The price has fallen in 6 of the last 10 days and is down by -15.08% for this period. Volume has increased on the last day by 19 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 57 thousand shares were bought and sold for approximately $61.15 thousand.
The fund has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $1.12. A reaction back to this level may hold a second chance to get out before further falls.
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PHMD Signals & Forecast
There are few to no technical positive signals at the moment. The PhotoMedex fund holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1.18 and $1.17. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, October 30, 2017, and so far it has fallen -6.96%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). PhotoMedex gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for PhotoMedex fund
PhotoMedex finds support from accumulated volume at $1.07 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the fund tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the fund moved $0.120 between high and low, or 11.43%. For the last week the fund has had daily average volatility of 11.94%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PHMD) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect PhotoMedex to open at $1.10, and during the day (based on 14 day Average True Range), to move between $0.94 and $1.20, which gives a possible trading interval of +/-$0.131 (+/-12.23%) up or down from last closing price. If PhotoMedex takes out the full calculated possible swing range there will be an estimated 24.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.07 (0.01%) than the resistance at $1.15 (7.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is PhotoMedex fund A Buy?
The PhotoMedex fund holds several negative signals and despite the positive trend, we believe PhotoMedex will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this fund. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this fund since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.393 Strong Sell Candidate Downgraded
Predicted Opening Price for PhotoMedex of Wednesday, November 1, 2017
Fair opening price November 1, 2017 | Current price |
---|---|
$1.10 ( 2.49%) | $1.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PHMD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.22 | 13.71 % | |
R2 | 1.17 | 9.42 % | ||
R1 | 1.14 | 6.78 % | ||
Current price: | 1.07 | |||
Support | S1 | 1.05 | -1.79 % | |
S2 | 1.02 | -4.44 % | ||
S3 | 0.98 | -8.72 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.26 | 17.76 % | |
R2 | 1.22 | 14.01 % | ||
R1 | 1.15 | 7.48 % | ||
Current price | 1.07 | |||
Support | S1 | 1.07 | -0.0093% | |
S2 | 1.00 | -6.54% | ||
S3 | 0.86 | -19.63% |
FAQ
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