NeuroMetrix Stock Forecast
NeuroMetrix stock upgraded from Sell Candidate to Buy Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)
The NeuroMetrix stock price fell by -2.46% on the last day (Wednesday, 24th Apr 2024) from $4.44 to $4.33. During the last trading day the stock fluctuated 3.22% from a day low at $4.30 to a day high of $4.44. The price has been going up and down for this period, and there has been a 17.34% gain for the last 2 weeks. 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 -16 thousand shares and in total, 12 thousand shares were bought and sold for approximately $51.95 thousand.
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 31.25% during the next 3 months and, with a 90% probability hold a price between $4.75 and $6.04 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 $4.06 and $3.95. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, April 22, 2024, and so far it has fallen -5.25%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for NeuroMetrix stock
NeuroMetrix finds support from accumulated volume at $4.27 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.138 between high and low, or 3.22%. For the last week the stock has had daily average volatility of 9.28%.
Our recommended stop-loss: $4.08 (-5.69%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (NURO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect NeuroMetrix to open at $4.36, and during the day (based on 14 day Average True Range), to move between $4.07 and $4.59, which gives a possible trading interval of +/-$0.256 (+/-5.91%) up or down from last closing price. If NeuroMetrix takes out the full calculated possible swing range there will be an estimated 11.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.27 (1.39%) than the resistance at $4.44 (2.52%), 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
NeuroMetrix will release earnings BMO on Wednesday, May 01, 2024. We will update the financials statements for NeuroMetrix, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 17.86% in the first trading day after earnings release.
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.867 Buy Candidate Upgraded
Predicted Opening Price for NeuroMetrix of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $4.36 ( 0.628%) | $4.33 |
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 | 4.50 | 3.82 % | |
| R2 | 4.44 | 2.60 % | ||
| R1 | 4.41 | 1.85 % | ||
| Current price: | 4.33 | |||
| Support | S1 | 4.30 | -0.593 % | |
| S2 | 4.27 | -1.35 % | ||
| S3 | 4.22 | -2.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 4.57 | 5.54 % | ||
| R1 | 4.44 | 2.52 % | ||
| Current price | 4.33 | |||
| Support | S1 | 4.27 | -1.39% | |
| S2 | 3.69 | -14.78% | ||
| S3 | 3.44 | -20.55% |
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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