EDAP TMS S.A. Stock Forecast
EDAP TMS S.A. stock upgraded from Strong Sell Candidate to Sell Candidate after Friday trading session.
(Updated on Apr 19, 2024)
The EDAP TMS S.A. stock price gained 1.82% on the last trading day (Friday, 19th Apr 2024), rising from $7.13 to $7.26. During the last trading day the stock fluctuated 4.84% from a day low at $7.02 to a day high of $7.36. The price has fallen in 6 of the last 10 days and is down by -10.92% for this period. Volume fell on the last day by -62 thousand shares and in total, 7 thousand shares were bought and sold for approximately $47.76 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 27.32% during the next 3 months and, with a 90% probability hold a price between $8.72 and $11.13 at the end of this 3-month period.
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EDAP Signals & Forecast
There are few to no technical positive signals at the moment. The EDAP TMS S.A. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $7.41 and $7.55. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -14.59%. 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). 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 EDAP TMS S.A. stock
EDAP TMS S.A. finds support from accumulated volume at $7.10 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.340 between high and low, or 4.84%. For the last week the stock has had daily average volatility of 3.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EDAP) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect EDAP TMS S.A. to open at $7.21, and during the day (based on 14 day Average True Range), to move between $6.94 and $7.58, which gives a possible trading interval of +/-$0.318 (+/-4.38%) up or down from last closing price. If EDAP TMS S.A. takes out the full calculated possible swing range there will be an estimated 8.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.10 (2.20%) than the resistance at $7.60 (4.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is EDAP TMS S.A. stock A Buy?
The EDAP TMS S.A. stock holds several negative signals and despite the positive trend, we believe EDAP TMS S.A. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.469 Sell Candidate Upgraded
Predicted Opening Price for EDAP TMS S.A. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $7.21 ( 0.643%) | $7.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EDAP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.55 | 4.04 % | |
| R2 | 7.42 | 2.25 % | ||
| R1 | 7.34 | 1.15 % | ||
| Current price: | 7.26 | |||
| Support | S1 | 7.08 | -2.43 % | |
| S2 | 7.00 | -3.54 % | ||
| S3 | 6.87 | -5.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.34 | 14.88 % | |
| R2 | 7.78 | 7.16 % | ||
| R1 | 7.60 | 4.68 % | ||
| Current price | 7.26 | |||
| Support | S1 | 7.10 | -2.20% | |
| S2 | 6.32 | -12.95% | ||
| S3 | 6.05 | -16.74% |
FAQ
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