ResMed Inc Stock Forecast
Evaluation of ResMed Inc stock downgraded after the last trading session.
(Updated on Apr 25, 2024)
The ResMed Inc stock price fell by -0.196% on the last day (Thursday, 25th Apr 2024) from $183.78 to $183.42. During the last trading day the stock fluctuated 2.96% from a day low at $179.00 to a day high of $184.30. The price has fallen in 6 of the last 10 days and is down by -3.21% for this period. Volume has increased on the last day by 151 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, 1 million shares were bought and sold for approximately $198.66 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect ResMed Inc stock with a 90% probability to be traded between $173.68 and $198.00 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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RMD Signals & Forecast
There are mixed signals in the stock today. The ResMed 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 $188.56. On a fall, the stock will find some support from the short-term average at $180.29. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 5.52%. Further rise is indicated until a new top pivot has been found.
A buy signal from a double bottom formation was found on Wednesday, April 17, 2024 and based on theory for this formation the price should go up by 15.50% to $211.85 within 33 trading days since signal was issued (Friday, April 26, 2024).
Support, Risk & Stop-loss for ResMed Inc stock
ResMed Inc finds support from accumulated volume at $177.61 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 $5.30 between high and low, or 2.96%. For the last week, the stock has had daily average volatility of 1.90%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RMD) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect ResMed Inc to open at $182.24, and during the day (based on 14 day Average True Range), to move between $178.78 and $188.06, which gives a possible trading interval of +/-$4.64 (+/-2.53%) up or down from last closing price. If ResMed Inc takes out the full calculated possible swing range there will be an estimated 5.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $177.61 (3.17%) than the resistance at $190.15 (3.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ResMed Inc stock A Buy?
ResMed Inc 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: -1.359 Sell Candidate Downgraded
Predicted Opening Price for ResMed Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $182.24 ( 0.643%) | $183.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RMD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 187.54 | 2.25 % | |
| R2 | 185.52 | 1.14 % | ||
| R1 | 184.26 | 0.460 % | ||
| Current price: | 183.42 | |||
| Support | S1 | 180.22 | -1.75 % | |
| S2 | 178.96 | -2.43 % | ||
| S3 | 176.94 | -3.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 193.31 | 5.39 % | |
| R2 | 191.23 | 4.26 % | ||
| R1 | 190.15 | 3.67 % | ||
| Current price | 183.42 | |||
| Support | S1 | 177.61 | -3.17% | |
| S2 | 173.96 | -5.16% | ||
| S3 | 173.83 | -5.23% |
RMD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 24, 2024 | Feb 07, 2024 | Mar 14, 2024 | $0.480 | 0.250% |
| 2 | Oct 26, 2023 | Nov 08, 2023 | Dec 14, 2023 | $0.480 | 0.278% |
| 3 | Aug 03, 2023 | Aug 16, 2023 | Sep 21, 2023 | $0.480 | 0.352% |
| 4 | Apr 27, 2023 | May 10, 2023 | Jun 15, 2023 | $0.440 | 0.201% |
| 5 | Jan 26, 2023 | Feb 08, 2023 | Jun 15, 2023 | $0.440 | 0.201% |
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