AngioDynamics Stock Forecast
Green day on Wednesday for AngioDynamics
(Updated on Jul 03, 2024)
The AngioDynamics stock price gained 0.353% on the last trading day (Wednesday, 3rd Jul 2024), rising from $5.66 to $5.68. During the last trading day the stock fluctuated 1.69% from a day low at $5.61 to a day high of $5.71. The price has risen in 6 of the last 10 days and is up by 0.53% over the past 2 weeks. Volume fell on the last day by -197 thousand shares and in total, 249 thousand shares were bought and sold for approximately $1.41 million. 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.
The stock lies in the middle of a 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 -7.70% during the next 3 months and, with a 90% probability hold a price between $4.96 and $6.00 at the end of this 3-month period.
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ANGO Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, July 02, 2024, and so far it has risen 0.353%. 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 AngioDynamics 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 $5.78 and $6.09. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
A buy signal from a double bottom formation was found on Tuesday, July 02, 2024 and based on theory for this formation the price should go up by 5.58% to $6.00 within 9 trading days (Tuesday, July 16, 2024) since signal was issued.
Support, Risk & Stop-loss for AngioDynamics stock
AngioDynamics finds support from accumulated volume at $5.66 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 $0.0950 between high and low, or 1.69%. For the last week the stock has had daily average volatility of 3.60%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ANGO) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect AngioDynamics to open at $5.67, and during the day (based on 14 day Average True Range), to move between $5.44 and $5.92, which gives a possible trading interval of +/-$0.239 (+/-4.21%) up or down from last closing price. If AngioDynamics takes out the full calculated possible swing range there will be an estimated 8.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.66 (0.35%) than the resistance at $6.12 (7.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
AngioDynamics will release earnings BMO on Wednesday, July 10, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.190. We will update the financials statements for AngioDynamics, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 12.53% in the first trading day after earnings release.
Is AngioDynamics stock A Buy?
AngioDynamics holds several negative signals and is within a 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.
Current score: -3.156 Sell Candidate Unchanged
Predicted Opening Price for AngioDynamics of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $5.67 ( 0.264%) | $5.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ANGO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.76 | 1.41% |
| R2 | 5.72 | 0.770% |
| R1 | 5.70 | 0.375% |
| Price | 5.68 | |
| S1 | 5.63 | -0.90% |
| S2 | 5.61 | -1.30% |
| S3 | 5.57 | -1.94% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.03 | 23.77% |
| R2 | 6.40 | 12.68% |
| R1 | 6.12 | 7.75% |
| Price | 5.68 | |
| S1 | 5.66 | -0.352% |
| S2 | 5.65 | -0.528% |
| S3 | 0 | - |
FAQ
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