Biomerica, Inc Stock Forecast
Volatile ride for Biomerica, Inc stock price on Tuesday moving between $0.550 and $0.662
(Updated on Apr 30, 2024)
The Biomerica, Inc stock price gained 11.92% on the last trading day (Tuesday, 30th Apr 2024), rising from $0.533 to $0.596. During the last trading day the stock fluctuated 20.42% from a day low at $0.550 to a day high of $0.662. The price has fallen in 7 of the last 10 days and is down by -19.27% for this period. Volume fell on the last day by -6 million shares and in total, 794 thousand shares were bought and sold for approximately $473.46 thousand. 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 lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.526 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -26.95% during the next 3 months and, with a 90% probability hold a price between $0.385 and $0.740 at the end of this 3-month period.
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BMRA Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 11.92%. 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 Biomerica, Inc 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 $0.661 and $0.84. 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.
Support, Risk & Stop-loss for Biomerica, Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.533. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
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 $0.112 between high and low, or 20.42%. For the last week the stock has had daily average volatility of 22.47%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BMRA) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Biomerica, Inc to open at $0.603, and during the day (based on 14 day Average True Range), to move between $0.509 and $0.683, which gives a possible trading interval of +/-$0.0868 (+/-14.56%) up or down from last closing price. If Biomerica, Inc takes out the full calculated possible swing range there will be an estimated 29.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.533 (10.65%) than the resistance at $0.665 (11.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Biomerica, Inc stock A Buy?
Biomerica, Inc 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.622 Sell Candidate Upgraded
Predicted Opening Price for Biomerica, Inc of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $0.603 ( 1.14%) | $0.596 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BMRA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.715 | 19.98 % | |
| R2 | 0.672 | 12.78 % | ||
| R1 | 0.646 | 8.33 % | ||
| Current price: | 0.596 | |||
| Support | S1 | 0.560 | -6.06 % | |
| S2 | 0.533 | -10.51 % | ||
| S3 | 0.490 | -17.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.713 | 19.63 % | |
| R2 | 0.675 | 13.31 % | ||
| R1 | 0.665 | 11.61 % | ||
| Current price | 0.596 | |||
| Support | S1 | 0.533 | -10.65% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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