Chembio Diagnostics stock price up 1.1% on Wednesday
(Updated on Dec 08, 2021)
Sell candidate since 2021-11-30 Loss -9.80% PDF
The Chembio Diagnostics stock price gained 1.10% on the last trading day (Wednesday, 8th Dec 2021), rising from $1.82 to $1.84. , and has now gained 3 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 8.82% from a day low at $1.70 to a day high of $1.85. The price has risen in 5 of the last 10 days, but is still down by -1.6% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 123 thousand more shares were traded than the day before. In total, 772 thousand shares were bought and sold for approximately $1.42 million.
The stock lies in the middle of a 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 -29.38% during the next 3 months and, with a 90% probability hold a price between $1.21 and $1.50 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.
Signals & Forecast
There are mixed signals in the stock today. The Chembio Diagnostics 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 $1.87 and $2.10. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Friday, December 03, 2021, and so far it has risen 4.55%. 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). Chembio Diagnostics has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss
Chembio Diagnostics finds support from accumulated volume at $1.82 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 $0.15 between high and low, or 8.82%. For the last week, the stock has had a daily average volatility of 7.40%.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is Chembio Diagnostics stock A Buy?
Chembio Diagnostics holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.354
Predicted Opening Price for Chembio Diagnostics 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 Jul 21, 2021 "Colliers Securities" gave "" rating for CEMI. The price target was set to $5.00+142.7%.
CEMI Insider Trading
|Mar 16, 2021||Buy||77 863||Eberly Richard||Common Stock|
|Mar 16, 2021||Sell||51 413||Eberly Richard||Common Stock|
|Mar 16, 2021||Buy||51 413||Eberly Richard||Common Stock|
|Mar 16, 2021||Sell||26 450||Eberly Richard||Common Stock|
|Mar 16, 2021||Sell||77 863||Eberly Richard||Restricted Stock Units|
Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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