Allmed Solutions Ltd Stock Forecast
Green day on Thursday for Allmed Solutions Ltd stock after gaining 2.60%
(Updated on Jun 27, 2024)
The Allmed Solutions Ltd stock price gained 2.60% on the last trading day (Thursday, 27th Jun 2024), rising from ₪34.60 to ₪35.50. During the last trading day the stock fluctuated 0% from a day low at ₪35.50 to a day high of ₪35.50. The price has risen in 6 of the last 10 days and is up by 14.15% over the past 2 weeks. Volume fell on the last day by -9 thousand shares and in total, 20 shares were bought and sold for approximately ₪710.00 . You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to fall -29.36% during the next 3 months and, with a 90% probability hold a price between ₪19.58 and ₪25.08 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.
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ALMD.TA Signals & Forecast
The Allmed Solutions Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₪33.13 and ₪33.95. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Sunday, June 09, 2024, and so far it has risen 14.52%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Allmed Solutions Ltd stock
Allmed Solutions Ltd finds support from accumulated volume at ₪34.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.10%.
The Allmed Solutions Ltd 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.
Our recommended stop-loss: ₪34.18 (-3.71%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 96 and this increases the risk substantially. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (ALMD.TA) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Allmed Solutions Ltd to open at ₪35.50, and during the day (based on 14 day Average True Range), to move between ₪34.55 and ₪36.45, which gives a possible trading interval of +/-₪0.95 (+/-2.67%) up or down from last closing price. If Allmed Solutions Ltd takes out the full calculated possible swing range there will be an estimated 5.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₪34.40 (3.10%) than the resistance at ₪43.30 (21.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Allmed Solutions Ltd stock A Buy?
Allmed Solutions Ltd 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Allmed Solutions Ltd of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| ₪35.50 ( 0%) | ₪35.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALMD.TA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 35.50 | - |
| R2 | 35.50 | - |
| R1 | 35.50 | - |
| Price | 35.50 | |
| S1 | 35.50 | - |
| S2 | 35.50 | - |
| S3 | 35.50 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 43.80 | 23.38% |
| R2 | 43.40 | 22.25% |
| R1 | 43.30 | 21.97% |
| Price | 35.50 | |
| S1 | 34.40 | -3.10% |
| S2 | 33.10 | -6.76% |
| S3 | 31.90 | -10.14% |
FAQ
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