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Chembio Diagnostics Stock Forecast NASDAQ:CEMI

$1.84 (1.10%)

Volume: 772k

Closed: Dec 08, 2021

Hollow Logo Score: -3.354

Chembio Diagnostics Stock Forecast

$1.84 (1.10%)

Volume: 772k

Closed: Dec 08, 2021

Score Hollow Logo -3.354
Which way will CEMI go? Request
Key Stats
Beta 1.85
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 41 and the stock is currently not being overbought or oversold

Chembio Diagnostics stock price up 1.1% on Wednesday
(Updated on Dec 08, 2021)


Sell candidate since 2021-11-30 Loss -9.80%

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
$1.80 $1.84 (Overvalued)
Sell Candidate Unchanged

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Analyst Ratings

On Jul 21, 2021 "Colliers Securities" gave "" rating for CEMI. The price target was set to $5.00+142.7%.

Volatility and Risk
Daily Average Volatility: 7.40 %
Overall Risk: Very High High Medium Low Very Low
Volatility
7.40 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $2.00
Price: $1.84
Support: $1.82

CEMI Insider Trading Show all Trades

INSIDER POWER

5.809

Last 100 transactions
Buy: 3 027 124 | Sell: 521 076 (Shares)
Date Action Amount Person Type
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
Show all Insider Trades
INSIDER POWER

5.809

Last 100 transactions
Buy: 3 027 124 | Sell: 521 076 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 1.95 5.80 %
1.89 2.68 %
1.85 0.76 %
Current price: 1.84
Support 1.74 -5.47 %
1.70 -7.39 %
1.65 -10.51 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 2.13 15.76 %
2.04 10.87 %
2.00 8.70 %
Current price 1.84
Support 1.82 -1.09%
1.76 -4.35%
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About Chembio Diagnostics

Chembio Diagnostics Chembio Diagnostics, Inc., together with its wholly-owned subsidiary, Chembio Diagnostic Systems, Inc., develops, manufactures, markets, and licenses rapid point-of-care (POC) diagnostic tests that detect infectious diseases. It offers rapid tests for the detection of HIV and syphilis antibodies. The company’s products include lateral flow rapid HIV tests and Dual Path Platform (DPP) HIV 1/2 Assay Test, which detect antibodies to HIV 1 and 2 wit... Read more

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