Volatile ride for Senseonics Holdings Inc stock price on Monday moving between $3.90 and $4.58StockInvest.us, 3 months ago
The Senseonics Holdings Inc stock price fell by -1.25% on the last day (Monday, 14th Jun 2021) from $4.01 to $3.96. During the day the stock fluctuated 17.44% from a day low at $3.90 to a day high of $4.58. The price has risen in 6 of the last 10 days and is up by 92.23% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -20 million shares and in total, 142 million shares were bought and sold for approximately $561.68 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $4.01 will firstly indicate a slower falling rate, but may be the first sign of a trend shift.Given the current short-term trend, the stock is expected to fall -4.78% during the next 3 months and, with a 90% probability hold a price between $1.56 and $3.82 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 Senseonics Holdings 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 $3.43 and $2.29. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). 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, June 11, 2021, and so far it has fallen -1.25%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
On the downside, the stock finds support just below today's level from accumulated volume at $3.62 and $3.43.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, Senseonics Holdings Inc finds support just below today's level at $3.62. If this is broken, then the next support from accumulated volume will be at $3.43 and $2.98.
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 $0.68 between high and low, or 17.44%. For the last week, the stock has had a daily average volatility of 18.07%.
The Senseonics Holdings Inc stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Senseonics Holdings 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.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy Candidate to a Hold/Accumulate candidate.Check full Senseonics Holdings Inc forecast and analysis here.