Avanos Medical Inc. stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Dec 08, 2021)
Buy or Hold candidate since 2021-12-06 Gain 0.81% PDF
The Avanos Medical Inc. stock price gained 0.19% on the last trading day (Wednesday, 8th Dec 2021), rising from $30.94 to $31.00. , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 2.05% from a day low at $30.77 to a day high of $31.40. The price has fallen in 6 of the last 10 days and is down by -5.26% for this period. Volume fell on the last day by -257 thousand shares and in total, 576 thousand shares were bought and sold for approximately $17.84 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Avanos Medical Inc. stock with a 90% probability to be traded between $29.77 and $36.16 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.
Signals & Forecast
There are mixed signals in the stock today. The Avanos Medical Inc. stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $32.42. On a fall, the stock will find some support from the short-term average at $30.39. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Wednesday, December 01, 2021, and so far it has risen 4.45%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss
Avanos Medical Inc. finds support from accumulated volume at $30.94 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.63 between high and low, or 2.05%. For the last week, the stock has had a daily average volatility of 3.66%.
Our recommended stop-loss: $29.60 (-4.51%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Is Avanos Medical Inc. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Avanos Medical Inc. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.037
Predicted Opening Price for Avanos Medical Inc. of Thursday, December 9, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 9, 2021||Current price|
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On Aug 04, 2021 "KeyCorp" gave "$55.00 - $47.00" rating for AVNS. The price target was changed from $36.93 to 4.1%.
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