Accolade Inc. Stock Forecast
Stronger technical forecast for Accolade Inc. stock price after Wednesday trading.
(Updated on Apr 24, 2024)
The Accolade Inc. stock price gained 0.535% on the last trading day (Wednesday, 24th Apr 2024), rising from $9.35 to $9.40. 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 3.72% from a day low at $9.13 to a day high of $9.47. The price has risen in 6 of the last 10 days and is up by 5.03% over the past 2 weeks. Volume fell on the last day by -73 thousand shares and in total, 564 thousand shares were bought and sold for approximately $5.30 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 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 -28.88% during the next 3 months and, with a 90% probability hold a price between $5.48 and $7.46 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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ACCD Signals & Forecast
The Accolade Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $9.05 and $9.38. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 13.94%. Further rise is indicated until a new top pivot has been found. 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. 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).
Support, Risk & Stop-loss for Accolade Inc. stock
Accolade Inc. finds support from accumulated volume at $9.23 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 $0.340 between high and low, or 3.72%. For the last week, the stock has had daily average volatility of 6.42%.
Our recommended stop-loss: $9.07 (-3.46%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (ACCD) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Accolade Inc. to open at $9.33, and during the day (based on 14 day Average True Range), to move between $8.88 and $9.92, which gives a possible trading interval of +/-$0.517 (+/-5.50%) up or down from last closing price. If Accolade Inc. takes out the full calculated possible swing range there will be an estimated 11.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.41 (0.11%) than the support at $9.23 (1.81%), 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
Accolade Inc. will release earnings AMC on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.110. We will update the financials statements for Accolade Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.87% in the first trading day after earnings release.
Is Accolade Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 1.108 Buy Candidate Upgraded
Predicted Opening Price for Accolade Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $9.33 ( 0.709%) | $9.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ACCD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.67 | 2.91 % | |
| R2 | 9.54 | 1.53 % | ||
| R1 | 9.46 | 0.672 % | ||
| Current price: | 9.40 | |||
| Support | S1 | 9.20 | -2.09 % | |
| S2 | 9.12 | -2.94 % | ||
| S3 | 8.99 | -4.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.96 | 5.96 % | |
| R2 | 9.56 | 1.70 % | ||
| R1 | 9.41 | 0.106 % | ||
| Current price | 9.40 | |||
| Support | S1 | 9.23 | -1.81% | |
| S2 | 9.13 | -2.87% | ||
| S3 | 8.40 | -10.64% |
FAQ
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