Tandem Diabetes Care Stock Forecast
Weaker technical forecast for Tandem Diabetes Care as stock downgraded to Buy Candidate.
(Updated on Apr 24, 2024)
The Tandem Diabetes Care stock price gained 0.429% on the last trading day (Wednesday, 24th Apr 2024), rising from $34.97 to $35.12. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.49% from a day low at $34.36 to a day high of $35.56. The price has fallen in 6 of the last 10 days but is still up by 1.59% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 991 thousand shares were bought and sold for approximately $34.79 million. 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 50.74% during the next 3 months and, with a 90% probability hold a price between $46.83 and $59.16 at the end of this 3-month period.
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TNDM Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -0.82%. 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). The Tandem Diabetes Care 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 $32.56 and $32.05. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Tandem Diabetes Care stock
On the downside, the stock finds support just below today's level from accumulated volume at $28.86 and $27.11. 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, Tandem Diabetes Care finds support just below today's level at $28.86. If this is broken, then the next support from accumulated volume will be at $27.11 and $27.07.
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 $1.20 between high and low, or 3.49%. For the last week, the stock has had daily average volatility of 5.19%.
Our recommended stop-loss: $33.93 (-3.39%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (TNDM) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Tandem Diabetes Care to open at $35.01, and during the day (based on 14 day Average True Range), to move between $33.28 and $36.96, which gives a possible trading interval of +/-$1.84 (+/-5.25%) up or down from last closing price. If Tandem Diabetes Care takes out the full calculated possible swing range there will be an estimated 10.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $35.30 (0.51%) than the support at $28.86 (17.82%), 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.
Earnings coming up
Tandem Diabetes Care will release earnings AMC on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.80. We will update the financials statements for Tandem Diabetes Care, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.53% in the first trading day after earnings release.
Is Tandem Diabetes Care 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 Tandem Diabetes Care stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.036 Buy Candidate Downgraded
Predicted Opening Price for Tandem Diabetes Care of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $35.01 ( 0.304%) | $35.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TNDM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.21 | 3.11 % | |
| R2 | 35.75 | 1.81 % | ||
| R1 | 35.47 | 1.00 % | ||
| Current price: | 35.12 | |||
| Support | S1 | 34.55 | -1.61 % | |
| S2 | 34.27 | -2.42 % | ||
| S3 | 33.81 | -3.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 35.41 | 0.83 % | ||
| R1 | 35.30 | 0.513 % | ||
| Current price | 35.12 | |||
| Support | S1 | 28.86 | -17.82% | |
| S2 | 27.11 | -22.82% | ||
| S3 | 27.07 | -22.92% |
FAQ
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