CareMax, Inc. Stock Forecast

High volatility in CareMax, Inc. stock price on Monday which ended trading at $3.09
(Updated on May 06, 2024)

CMAX 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 CareMax, 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 $3.40 and $3.86. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 06, 2024, and so far it has fallen -79.26%. Further fall is indicated until a new bottom pivot has been found. CareMax, Inc. 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".

Support, Risk & Stop-loss for CareMax, Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $2.57 and $2.51. 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, CareMax, Inc. finds support just below today's level at $2.57. If this is broken, then the next support from accumulated volume will be at $2.51 and $2.40.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.565 between high and low, or 19.15%. For the last week, the stock has had daily average volatility of 16.85%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CMAX) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect CareMax, Inc. to open at $3.19, and during the day (based on 14 day Average True Range), to move between $2.38 and $3.80, which gives a possible trading interval of +/-$0.706 (+/-22.86%) up or down from last closing price. If CareMax, Inc. takes out the full calculated possible swing range there will be an estimated 45.71% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $3.21 (3.88%) than the support at $2.57 (16.83%), 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 CareMax, Inc. stock A Buy?

CareMax, 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -5.992 Strong Sell Candidate Downgraded

Predicted Opening Price for CareMax, Inc. of Tuesday, May 7, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.