Alimera Sciences Stock Forecast
Alimera Sciences stock downgraded to Sell Candidate
(Updated on Mar 28, 2024)
No changes to the price of Alimera Sciences stock on the last trading day (Thursday, 28th Mar 2024). During the last trading day the stock fluctuated 6.65% from a day low at $3.76 to a day high of $4.01. The price has risen in 5 of the last 10 days but is still down by -2.01% for this period.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.75% during the next 3 months and, with a 90% probability hold a price between $3.11 and $4.08 at the end of this 3-month period.
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ALIM Signals & Forecast
The Alimera Sciences stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $3.94. On a fall, the stock will find some support from the long-term average at approximately $3.74. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -7.36%. 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).
Support, Risk & Stop-loss for Alimera Sciences stock
Alimera Sciences finds support from accumulated volume at $3.89 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.250 between high and low, or 6.65%. For the last week, the stock has had daily average volatility of 5.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ALIM) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Alimera Sciences to open at $3.89, and during the day (based on 14 day Average True Range), to move between $3.66 and $4.14, which gives a possible trading interval of +/-$0.241 (+/-6.18%) up or down from last closing price. If Alimera Sciences takes out the full calculated possible swing range there will be an estimated 12.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.89 (0.26%) than the resistance at $3.99 (2.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Alimera Sciences stock A Buy?
Alimera Sciences holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.115 Sell Candidate Downgraded
Predicted Opening Price for Alimera Sciences of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$3.89 ( 0.256%) | $3.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALIM
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.14 | 6.15 % | |
R2 | 4.04 | 3.71 % | ||
R1 | 3.99 | 2.19 % | ||
Current price: | 3.90 | |||
Support | S1 | 3.79 | -2.71 % | |
S2 | 3.74 | -4.22 % | ||
S3 | 3.64 | -6.67 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.21 | 7.95 % | |
R2 | 4.08 | 4.62 % | ||
R1 | 3.99 | 2.31 % | ||
Current price | 3.90 | |||
Support | S1 | 3.89 | -0.256% | |
S2 | 3.87 | -0.769% | ||
S3 | 3.34 | -14.36% |
FAQ
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