Accelerate Diagnostics Stock Forecast
Accelerate Diagnostics stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Accelerate Diagnostics stock price fell by -2.00% on the last day (Wednesday, 24th Apr 2024) from $0.95 to $0.93. During the last trading day the stock fluctuated 8.92% from a day low at $0.87 to a day high of $0.95. The price has risen in 6 of the last 10 days and is up by 4.61% 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 -125 thousand shares and in total, 13 thousand shares were bought and sold for approximately $11.90 thousand.
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 $0.97 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 -31.85% during the next 3 months and, with a 90% probability hold a price between $0.477 and $0.660 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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AXDX Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 26.41%. 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. The Accelerate Diagnostics 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 $0.95. On a fall, the stock will find some support from the short-term average at $0.85. 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. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Accelerate Diagnostics stock
Accelerate Diagnostics finds support from accumulated volume at $0.89 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 $0.0778 between high and low, or 8.92%. For the last week the stock has had daily average volatility of 11.02%.
Our recommended stop-loss: $0.90 (-3.86%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (AXDX) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Accelerate Diagnostics to open at $0.92, and during the day (based on 14 day Average True Range), to move between $0.85 and $1.02, which gives a possible trading interval of +/-$0.0850 (+/-9.13%) up or down from last closing price. If Accelerate Diagnostics takes out the full calculated possible swing range there will be an estimated 18.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.94 (0.99%) than the support at $0.89 (4.46%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Accelerate Diagnostics stock A Buy?
Accelerate Diagnostics 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.308 Hold/Accumulate Upgraded
Predicted Opening Price for Accelerate Diagnostics of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.92 ( 1.43%) | $0.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AXDX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.00 | 6.92 % | |
| R2 | 0.97 | 3.73 % | ||
| R1 | 0.95 | 1.76 % | ||
| Current price: | 0.93 | |||
| Support | S1 | 0.89 | -4.62 % | |
| S2 | 0.87 | -6.60 % | ||
| S3 | 0.84 | -9.79 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.10 | 18.15 % | |
| R2 | 0.95 | 2.04 % | ||
| R1 | 0.94 | 0.99 % | ||
| Current price | 0.93 | |||
| Support | S1 | 0.89 | -4.46% | |
| S2 | 0.84 | -9.79% | ||
| S3 | 0.737 | -20.89% |
FAQ
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