NeuroMetrix Stock Forecast
Green day on Wednesday for NeuroMetrix stock after gaining 4.00%
(Updated on Mar 27, 2024)
The NeuroMetrix stock price gained 4.00% on the last trading day (Wednesday, 27th Mar 2024), rising from $4.00 to $4.16. During the last trading day the stock fluctuated 3.74% from a day low at $4.01 to a day high of $4.16. The price has risen in 6 of the last 10 days and is up by 6.12% over the past 2 weeks. Volume fell on the last day by -4 thousand shares and in total, 3 thousand shares were bought and sold for approximately $10.65 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 25.87% during the next 3 months and, with a 90% probability hold a price between $4.17 and $5.76 at the end of this 3-month period.
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NURO Signals & Forecast
The NeuroMetrix stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $4.04 and $3.68. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 05, 2024, and so far it has risen 11.83%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for NeuroMetrix stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.78 and $3.69. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, NeuroMetrix finds support just below today's level at $3.78. If this is broken, then the next support from accumulated volume will be at $3.69 and $3.17.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.150 between high and low, or 3.74%. For the last week the stock has had daily average volatility of 3.91%.
Our recommended stop-loss: $3.98 (-4.37%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (NURO) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect NeuroMetrix to open at $4.11, and during the day (based on 14 day Average True Range), to move between $3.93 and $4.39, which gives a possible trading interval of +/-$0.232 (+/-5.57%) up or down from last closing price. If NeuroMetrix takes out the full calculated possible swing range there will be an estimated 11.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.27 (2.64%) than the support at $3.78 (9.13%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is NeuroMetrix stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for NeuroMetrix stock to perform well in the short-term.
Current score: 4.054 Buy Candidate Unchanged
Predicted Opening Price for NeuroMetrix of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$4.11 ( 1.20%) | $4.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NURO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.26 | 2.40 % | |
R2 | 4.20 | 1.03 % | ||
R1 | 4.17 | 0.175 % | ||
Current price: | 4.16 | |||
Support | S1 | 4.05 | -2.58 % | |
S2 | 4.02 | -3.43 % | ||
S3 | 3.96 | -4.81 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 4.27 | 2.64 % | ||
Current price | 4.16 | |||
Support | S1 | 3.78 | -9.13% | |
S2 | 3.69 | -11.30% | ||
S3 | 3.17 | -23.80% |
NURO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 14, 2007 | Mar 28, 2007 | Nov 19, 2019 | $1,728.00 | 6,084.51% |
FAQ
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