Glaukos Corporation Stock Forecast
Green day on Thursday for Glaukos Corporation
(Updated on Mar 28, 2024)
The Glaukos Corporation stock price gained 1.73% on the last trading day (Thursday, 28th Mar 2024), rising from $92.69 to $94.29. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.24% from a day low at $92.29 to a day high of $94.36. The price has risen in 7 of the last 10 days and is up by 9.92% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 134 thousand more shares were traded than the day before. In total, 459 thousand shares were bought and sold for approximately $43.25 million.
The stock lies in the middle of a wide and weak 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 3.64% during the next 3 months and, with a 90% probability hold a price between $82.63 and $101.71 at the end of this 3-month period.
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GKOS Signals & Forecast
The Glaukos Corporation 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 $89.76 and $90.00. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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, February 12, 2024, and so far it has fallen -2.12%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Glaukos Corporation stock
Glaukos Corporation finds support from accumulated volume at $92.56 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.07 (2.24%) between high and low. For the last week, the stock has had daily average volatility of 3.33%.
Since the Glaukos Corporation has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: $90.53 (-3.99%) (This stock has low daily movements and this gives low risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from a pivot top found 32 days ago.)
Trading Expectations (GKOS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Glaukos Corporation to open at $93.65, and during the day (based on 14 day Average True Range), to move between $91.45 and $97.13, which gives a possible trading interval of +/-$2.84 (+/-3.01%) up or down from last closing price. If Glaukos Corporation takes out the full calculated possible swing range there will be an estimated 6.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $94.30 (0.01%) than the support at $92.56 (1.83%), 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.
Is Glaukos Corporation stock A Buy?
Glaukos Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.440 Hold/Accumulate Unchanged
Predicted Opening Price for Glaukos Corporation of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$93.65 ( 0.684%) | $94.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GKOS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 95.71 | 1.51 % | |
R2 | 94.92 | 0.669 % | ||
R1 | 94.43 | 0.153 % | ||
Current price: | 94.29 | |||
Support | S1 | 92.86 | -1.52 % | |
S2 | 92.37 | -2.04 % | ||
S3 | 91.58 | -2.87 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 96.33 | 2.16 % | |
R2 | 95.99 | 1.80 % | ||
R1 | 94.30 | 0.0106 % | ||
Current price | 94.29 | |||
Support | S1 | 92.56 | -1.83% | |
S2 | 91.46 | -3.00% | ||
S3 | 89.57 | -5.01% |
FAQ
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