BioTelemetry Stock Forecast
Red day on Friday for BioTelemetry
(Updated on Sep 22, 2023)
The BioTelemetry stock price fell by -4.85% on the last day (Friday, 22nd Sep 2023) from $2.27 to $2.16. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 7.75% from a day low at $2.13 to a day high of $2.30. The price has fallen in 7 of the last 10 days but is still up by 6.4% over the past 2 weeks. Volume has increased on the last day by 9 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 40 thousand shares were bought and sold for approximately $86.09 thousand.
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The stock lies in the middle of a very 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 -26.88% during the next 3 months and, with a 90% probability hold a price between $1.22 and $1.82 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.
BEAT Signals & Forecast
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 BioTelemetry stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $2.38 and $2.29. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, September 18, 2023, and so far it has fallen -13.94%. Further fall is indicated until a new bottom pivot has been found. BioTelemetry gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for BioTelemetry stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.03 and $1.97. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, BioTelemetry finds support just below today's level at $2.03. If this is broken, then the next support from accumulated volume will be at $1.97 and $1.93.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.165 between high and low, or 7.75%. For the last week, the stock has had daily average volatility of 8.31%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BEAT) For The Upcoming Trading Day Of Monday 25th
For the upcoming trading day on Monday, 25th we expect BioTelemetry to open at $2.20, and during the day (based on 14 day Average True Range), to move between $1.96 and $2.36, which gives a possible trading interval of +/-$0.198 (+/-9.15%) up or down from last closing price. If BioTelemetry takes out the full calculated possible swing range there will be an estimated 18.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.23 (3.24%) than the support at $2.03 (6.02%), 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 BioTelemetry stock A Buy?
BioTelemetry holds several negative signals and is within a very 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: -3.482 Open Broker Account
Sell Candidate UnchangedPredicted Opening Price for BioTelemetry of Monday, September 25, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price September 25, 2023 | Current price |
|---|---|
| $2.20 | $2.16 (Undervalued) |
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Trading levels for BEAT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.36 | 9.26 % | |
| R2 | 2.30 | 6.34 % | ||
| R1 | 2.26 | 4.54 % | ||
| Current price: | 2.16 | |||
| Support | S1 | 2.13 | -1.30 % | |
| S2 | 2.09 | -3.10 % | ||
| S3 | 2.03 | -6.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.46 | 13.89 % | |
| R2 | 2.44 | 12.96 % | ||
| R1 | 2.23 | 3.24 % | ||
| Current price | 2.16 | |||
| Support | S1 | 2.03 | -6.02% | |
| S2 | 1.97 | -8.80% | ||
| S3 | 1.93 | -10.65% |
FAQ
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About BioTelemetry
HeartBeam, Inc., a medical technology company, primarily focuses on telemedicine solutions for the detection and monitoring of cardiac disease outside a healthcare facility setting. The company also focuses on providing diagnostic data to physicians with care management of patients with cardiovascular disease. Its telehealth product comprises a credit card sized electrocardiogram machine and a cloud-based diagnostic software system to address the... BEAT Profile
Top Fintech Company
featured in The Global Fintech Index 2020 as the top Fintech company of the country.
