Amedisys Inc Stock Forecast
Amedisys Inc stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Apr 23, 2024)
The Amedisys Inc stock price fell by -0.0877% on the last day (Tuesday, 23rd Apr 2024) from $91.24 to $91.16. During the last trading day the stock fluctuated 0.735% from a day low at $91.13 to a day high of $91.80. The price has fallen in 8 of the last 10 days and is down by -1.67% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -58 thousand shares and in total, 101 thousand shares were bought and sold for approximately $9.17 million.
The stock lies in the middle of a narrow 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 -3.50% during the next 3 months and, with a 90% probability hold a price between $87.13 and $89.01 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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AMED Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.84%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Amedisys Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $92.32. On a fall, the stock will find some support from the short-term average at $91.02. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Amedisys Inc stock
Amedisys Inc finds support from accumulated volume at $90.96 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.670 between high and low, or 0.735%. For the last week the stock has had daily average volatility of 0.91%.
Our recommended stop-loss: $85.64 (-6.06%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (AMED) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Amedisys Inc to open at $91.36, and during the day (based on 14 day Average True Range), to move between $90.30 and $92.02, which gives a possible trading interval of +/-$0.86 (+/-0.94%) up or down from last closing price. If Amedisys Inc takes out the full calculated possible swing range there will be an estimated 1.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $90.96 (0.22%) than the resistance at $93.02 (2.04%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Amedisys Inc will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.01. We will update the financials statements for Amedisys Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.34% in the first trading day after earnings release.
Is Amedisys Inc stock A Buy?
Amedisys Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.355 Hold/Accumulate Upgraded
Predicted Opening Price for Amedisys Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $91.36 ( 0.219%) | $91.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMED
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 92.03 | 0.95 % | |
| R2 | 91.77 | 0.674 % | ||
| R1 | 91.62 | 0.500 % | ||
| Current price: | 91.16 | |||
| Support | S1 | 91.10 | -0.0614 % | |
| S2 | 90.95 | -0.235 % | ||
| S3 | 90.69 | -0.516 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 93.54 | 2.61 % | |
| R2 | 93.14 | 2.17 % | ||
| R1 | 93.02 | 2.04 % | ||
| Current price | 91.16 | |||
| Support | S1 | 90.96 | -0.219% | |
| S2 | 90.78 | -0.417% | ||
| S3 | 90.40 | -0.83% |
FAQ
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