AxoGen Stock Forecast
AxoGen stock downgraded to Hold/Accumulate
(Updated on Jul 02, 2024)
The AxoGen stock price fell by -2.46% on the last day (Tuesday, 2nd Jul 2024) from $7.71 to $7.52. During the last trading day the stock fluctuated 6.55% from a day low at $7.18 to a day high of $7.65. The price has risen in 6 of the last 10 days and is up by 1.48% 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 -209 thousand shares and in total, 276 thousand shares were bought and sold for approximately $2.08 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.65% during the next 3 months and, with a 90% probability hold a price between $5.95 and $8.32 at the end of this 3-month period.
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AXGN Signals & Forecast
The AxoGen stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $7.39 and $6.86. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -6.70%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for AxoGen stock
AxoGen finds support from accumulated volume at $7.41 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 $0.470 between high and low, or 6.55%. For the last week, the stock has had daily average volatility of 6.38%.
Our recommended stop-loss: $7.07 (-5.96%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 39 days ago.)
Trading Expectations (AXGN) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect AxoGen to open at $7.45, and during the day (based on 14 day Average True Range), to move between $7.12 and $7.92, which gives a possible trading interval of +/-$0.401 (+/-5.33%) up or down from last closing price. If AxoGen takes out the full calculated possible swing range there will be an estimated 10.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.41 (1.46%) than the resistance at $7.64 (1.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is AxoGen stock A Buy?
AxoGen 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.214 Hold/Accumulate Downgraded
Predicted Opening Price for AxoGen of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $7.45 ( 0.93%) | $7.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AXGN
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.92 | 5.32% |
| R2 | 7.74 | 2.93% |
| R1 | 7.63 | 1.46% |
| Price | 7.52 | |
| S1 | 7.27 | -3.32% |
| S2 | 7.16 | -4.79% |
| S3 | 6.98 | -7.18% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.06 | 7.18% |
| R2 | 7.71 | 2.53% |
| R1 | 7.64 | 1.60% |
| Price | 7.52 | |
| S1 | 7.41 | -1.46% |
| S2 | 7.24 | -3.72% |
| S3 | 7.00 | -6.91% |
AXGN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 22, 2009 | Jan 27, 2010 | Feb 12, 2010 | $1.00 | 25.64% |
| 2 | Feb 23, 2005 | Feb 23, 2005 | Feb 23, 2005 | $0.0600 | 2.61% |
| 3 | Jul 10, 1992 | Jul 10, 1992 | Jul 10, 1992 | $0.0417 | 0.497% |
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