MediWound Ltd. Stock Forecast
On Wednesday, MediWound Ltd. stock price gained an impressive 7.19%
(Updated on Apr 24, 2024)
The MediWound Ltd. stock price gained 7.19% on the last trading day (Wednesday, 24th Apr 2024), rising from $16.41 to $17.59. During the last trading day the stock fluctuated 9.04% from a day low at $16.26 to a day high of $17.73. The price has risen in 6 of the last 10 days and is up by 15.12% 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, 26 thousand more shares were traded than the day before. In total, 48 thousand shares were bought and sold for approximately $837.35 thousand.
The stock lies in the middle of a 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 33.18% during the next 3 months and, with a 90% probability hold a price between $20.25 and $24.95 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MDWD Signals & Forecast
The MediWound Ltd. 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 $16.89 and $15.85. 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). MediWound Ltd. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Tuesday, April 16, 2024, and so far it has fallen -3.77%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for MediWound Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $16.58 and $15.97. 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, MediWound Ltd. finds support just below today's level at $16.58. If this is broken, then the next support from accumulated volume will be at $15.97 and $14.00.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.47 between high and low, or 9.04%. For the last week, the stock has had daily average volatility of 7.55%.
Our recommended stop-loss: $16.74 (-4.82%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (MDWD) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect MediWound Ltd. to open at $17.19, and during the day (based on 14 day Average True Range), to move between $16.47 and $18.71, which gives a possible trading interval of +/-$1.12 (+/-6.34%) up or down from last closing price. If MediWound Ltd. takes out the full calculated possible swing range there will be an estimated 12.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $18.28 (3.92%) than the support at $16.58 (5.74%), 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 MediWound Ltd. 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 MediWound Ltd. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.676 Buy Candidate Upgraded
Predicted Opening Price for MediWound Ltd. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $17.19 ( 2.26%) | $17.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MDWD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.66 | 6.10 % | |
| R2 | 18.10 | 2.91 % | ||
| R1 | 17.75 | 0.94 % | ||
| Current price: | 17.59 | |||
| Support | S1 | 16.63 | -5.45 % | |
| S2 | 16.28 | -7.42 % | ||
| S3 | 15.72 | -10.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 18.28 | 3.92 % | ||
| Current price | 17.59 | |||
| Support | S1 | 16.58 | -5.74% | |
| S2 | 15.97 | -9.21% | ||
| S3 | 14.00 | -20.41% |
FAQ
Click here for our free guide on how to buy MediWound Ltd. Stock.
