Big movements in ReShape Lifesciences Inc stock price on Thursday moving 82.63% between high and low

The ReShape Lifesciences Inc stock price gained 25.93% on the last trading day (Thursday, 12th Oct 2023), rising from $0.270 to $0.340. During the last trading day the stock fluctuated 82.63% from a day low at $0.300 to a day high of $0.548. The price has fallen in 7 of the last 10 days and is down by -22.73% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 69 million more shares were traded than the day before. In total, 72 million shares were bought and sold for approximately $24.57 million.

On Aug 22, 2021, it was reported that Alliance Global Partners gave RSLS a "Buy" grade with a "hold" action.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -74.54% during the next 3 months and, with a 90% probability hold a price between $0.0634 and $0.117 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

A buy signal was issued from a pivot bottom point on Wednesday, October 11, 2023, and so far it has risen 25.93%. Further rise is indicated until a new top pivot has been found. 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. The ReShape Lifesciences Inc 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 $0.655. On a fall, the stock will find some support from the short-term average at $0.299. 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).

ReShape Lifesciences Inc finds support from accumulated volume at $0.338 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.248 between high and low, or 82.63%. For the last week, the stock has had daily average volatility of 36.15%.

ReShape Lifesciences Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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.