Electromed, Inc Stock Forecast

Electromed, Inc stock price ended at $16.38 on Friday, after losing 3.99%.
(Updated on May 17, 2024)

ELMD Signals & Forecast

The Electromed, Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $17.07. On a fall, the stock will find some support from the long-term average at approximately $16.12. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell 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 Friday, May 03, 2024, and so far it has fallen -11.46%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Electromed, Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at $15.54 and $15.00. 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, Electromed, Inc finds support just below today's level at $15.54. If this is broken, then the next support from accumulated volume will be at $15.00 and $14.99.

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 $0.740 between high and low, or 4.52%. For the last week the stock has had daily average volatility of 4.68%.

Our recommended stop-loss: $15.40 (-6.00%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)

Trading Expectations (ELMD) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Electromed, Inc to open at $16.63, and during the day (based on 14 day Average True Range), to move between $15.51 and $17.25, which gives a possible trading interval of +/-$0.87 (+/-5.32%) up or down from last closing price. If Electromed, Inc takes out the full calculated possible swing range there will be an estimated 10.64% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $16.50 (0.73%) than the support at $15.54 (5.13%), 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 Electromed, Inc 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 Electromed, Inc stock to perform well in the short-term.

Current score: 3.205 Buy Candidate Unchanged

Predicted Opening Price for Electromed, Inc of Monday, May 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.