Volatile ride for Ra Medical Systems Inc. stock price on Tuesday moving between $0.40 and $0.59

The Ra Medical Systems Inc. stock price gained 39.19% on the last trading day (Tuesday, 5th Jul 2022), rising from $0.31 to $0.43. During the day the stock fluctuated 47.32% from a day low at $0.40 to a day high of $0.59. The price has risen in 6 of the last 10 days and is up by 51.93% 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, 150 million more shares were traded than the day before. In total, 150 million shares were bought and sold for approximately $64.69 million.

HC Wainwright & Co. is very positive about RMED and gave it a "" rating on Oct 21, 2021. The price target was set to 12.

Given the current short-term trend, the stock is expected to fall -8.93% during the next 3 months and, with a 90% probability hold a price between $0.23 and $0.39 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.

The Ra Medical Systems Inc. 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 $0.33 and $0.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 11, 2022, and so far it has risen 57.03%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $0.37 and $0.34.There is 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, Ra Medical Systems Inc. finds support just below today's level at $0.37. If this is broken, then the next support from accumulated volume will be at $0.34 and $0.33.

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 $0.19 between high and low, or 47.32%. For the last week, the stock has had a daily average volatility of 15.30%.

Ra Medical Systems Inc. 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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.