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Alimera Sciences stock downgraded to Sell Candidate
(Updated on Feb 28, 2024)

Sell candidate since Feb 28, 2024 PDF
The Alimera Sciences stock price fell by -4.57% on the last day (Wednesday, 28th Feb 2024) from $3.50 to $3.34. During the last trading day the stock fluctuated 7.17% from a day low at $3.33 to a day high of $3.57. The price has risen in 6 of the last 10 days but is still down by -11.64% for this period. 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 -11 thousand shares and in total, 59 thousand shares were bought and sold for approximately $198.50 thousand.

The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $3.24 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Alimera Sciences stock with a 90% probability to be traded between $3.18 and $4.19 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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ALIM Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, February 21, 2024, and so far it has risen 2.77%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Alimera Sciences stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $3.36 and $3.73. A break-up above any of these levels will issue buy signals. 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 Alimera Sciences stock

Alimera Sciences finds support from accumulated volume at $3.31 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.239 between high and low, or 7.17%. For the last week the stock has had daily average volatility of 6.47%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ALIM) For The Upcoming Trading Day Of Thursday 29th

For the upcoming trading day on Thursday, 29th we expect Alimera Sciences to open at $3.41, and during the day (based on 14 day Average True Range), to move between $3.08 and $3.60, which gives a possible trading interval of +/-$0.264 (+/-7.92%) up or down from last closing price. If Alimera Sciences takes out the full calculated possible swing range there will be an estimated 15.84% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $3.31 (0.90%) than the resistance at $3.78 (13.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Alimera Sciences stock A Buy?

Alimera Sciences holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.151 Sell Candidate Downgraded

Predicted Opening Price for Alimera Sciences of Thursday, February 29, 2024

Fair opening price February 29, 2024 Current price
$3.41 ( 2.18%) $3.34

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

News Digest

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 3.65 9.34 %
R2 3.56 6.60 %
R1 3.50 4.92 %
Current price: 3.34
Support S1 3.32 -0.548 %
S2 3.27 -2.24 %
S3 3.17 -4.97 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 4.00 19.76 %
R2 3.89 16.47 %
R1 3.78 13.17 %
Current price 3.34
Support S1 3.31 -0.90%
S2 3.25 -2.69%
S3 3.09 -7.63%

FAQ

What is the symbol for Alimera Sciences Stock and on which exchange is it traded?
The symbol for Alimera Sciences is ALIM and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Alimera Sciences Stock?
Alimera Sciences holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

How to buy Alimera Sciences Stock?
Alimera Sciences Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Alimera Sciences Stock.

What's the current price of Alimera Sciences Stock?
As of the end of day on the 2024-02-28, the price of an Alimera Sciences (ALIM) share was $3.34.

What is the 52-week high and low for Alimera Sciences Stock?
The 52-week high for Alimera Sciences Stock is $4.38 and the 52-week low is $1.30.

What is the market capitalization of Alimera Sciences Stock?
As of the 2024-02-28, the market capitalization of Alimera Sciences is 175.072M.

When is the next earnings date for Alimera Sciences?
The upcoming earnings date for Alimera Sciences is Mar 29, 2024.

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About Alimera Sciences

Alimera Sciences Alimera Sciences, Inc., a pharmaceutical company, engages in the development and commercialization of ophthalmic pharmaceuticals in the United States and internationally. It offers ILUVIEN, an intravitreal implant for the treatment of diabetic macular edema (DME), which is a disease of the retina that affects individuals with diabetes and lead to severe vision loss and blindness; and to prevent relapse in recurrent non-infectious uveitis affectin... ALIM Profile

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