ICU Medical Stock Forecast
Green day on Tuesday for ICU Medical stock after gaining 0.534%
(Updated on Apr 30, 2024)
The ICU Medical stock price gained 0.534% on the last trading day (Tuesday, 30th Apr 2024), rising from $97.40 to $97.92. 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 2.96% from a day low at $95.44 to a day high of $98.27. The price has risen in 6 of the last 10 days and is up by 1.65% over the past 2 weeks. Volume fell on the last day by -620 shares and in total, 151 thousand shares were bought and sold for approximately $14.78 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect ICU Medical stock with a 90% probability to be traded between $92.70 and $109.01 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ICUI Signals & Forecast
There are mixed signals in the stock today. The ICU Medical stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $99.39. On a fall, the stock will find some support from the short-term average at $96.51. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 3.59%. 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.
Support, Risk & Stop-loss for ICU Medical stock
ICU Medical finds support from accumulated volume at $96.80 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 $2.83 between high and low, or 2.96%. For the last week, the stock has had daily average volatility of 2.52%.
Our recommended stop-loss: $93.61 (-4.40%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (ICUI) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect ICU Medical to open at $97.21, and during the day (based on 14 day Average True Range), to move between $94.60 and $101.24, which gives a possible trading interval of +/-$3.32 (+/-3.39%) up or down from last closing price. If ICU Medical takes out the full calculated possible swing range there will be an estimated 6.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $96.80 (1.14%) than the resistance at $103.51 (5.71%), 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
ICU Medical will release earnings AMC on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.84. We will update the financials statements for ICU Medical, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.70% in the first trading day after earnings release.
Is ICU Medical stock A Buy?
ICU Medical 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: 0.769 Hold/Accumulate Unchanged
Predicted Opening Price for ICU Medical of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $97.21 ( 0.724%) | $97.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ICUI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 100.04 | 2.16 % | |
| R2 | 98.96 | 1.06 % | ||
| R1 | 98.29 | 0.379 % | ||
| Current price: | 97.92 | |||
| Support | S1 | 96.13 | -1.83 % | |
| S2 | 95.46 | -2.51 % | ||
| S3 | 94.38 | -3.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 112.48 | 14.87 % | |
| R2 | 105.39 | 7.63 % | ||
| R1 | 103.51 | 5.71 % | ||
| Current price | 97.92 | |||
| Support | S1 | 96.80 | -1.14% | |
| S2 | 95.00 | -2.98% | ||
| S3 | 86.88 | -11.27% |
FAQ
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