CONMED Corporation Stock Forecast
CONMED Corporation stock price down 2.31% on Thursday
(Updated on Apr 18, 2024)
The CONMED Corporation stock price fell by -2.31% on the last day (Thursday, 18th Apr 2024) from $72.76 to $71.08. During the last trading day the stock fluctuated 3.15% from a day low at $70.57 to a day high of $72.79. The price has been going up and down for this period, and there has been a -8.73% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -278 thousand shares and in total, 501 thousand shares were bought and sold for approximately $35.62 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 -18.75% during the next 3 months and, with a 90% probability hold a price between $53.40 and $63.77 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.
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CNMD 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 CONMED Corporation 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 $75.27 and $78.93. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -11.55%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for CONMED Corporation stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $2.22 between high and low, or 3.15%. For the last week, the stock has had daily average volatility of 3.99%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CNMD) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect CONMED Corporation to open at $71.48, and during the day (based on 14 day Average True Range), to move between $68.67 and $73.49, which gives a possible trading interval of +/-$2.41 (+/-3.39%) up or down from last closing price. If CONMED Corporation takes out the full calculated possible swing range there will be an estimated 6.79% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $80.91, some $9.83 (13.83%) from the current price of $71.08, our system finds the risk reward not very attractive.
Earnings coming up
CONMED Corporation will release earnings AMC on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.740. We will update the financials statements for CONMED Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.78% in the first trading day after earnings release.
Is CONMED Corporation stock A Buy?
CONMED Corporation holds several negative signals and is within a 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: -3.169 Sell Candidate Unchanged
Predicted Opening Price for CONMED Corporation of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $71.48 ( 0.563%) | $71.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CNMD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 73.70 | 3.69 % | |
| R2 | 72.85 | 2.49 % | ||
| R1 | 72.33 | 1.76 % | ||
| Current price: | 71.08 | |||
| Support | S1 | 70.63 | -0.630 % | |
| S2 | 70.11 | -1.37 % | ||
| S3 | 69.26 | -2.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 83.76 | 17.84 % | |
| R2 | 82.48 | 16.04 % | ||
| R1 | 80.91 | 13.83 % | ||
| Current price | 71.08 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
CNMD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 14, 2024 | Mar 14, 2024 | Apr 05, 2024 | $0.200 | 0.257% |
| 2 | Dec 04, 2023 | Dec 15, 2023 | Jan 05, 2024 | $0.200 | 0.187% |
| 3 | Aug 10, 2023 | Sep 14, 2023 | Oct 05, 2023 | $0.200 | 0.207% |
| 4 | May 24, 2023 | Jun 14, 2023 | Jul 05, 2023 | $0.200 | 0.152% |
| 5 | Feb 27, 2023 | Mar 14, 2023 | Apr 05, 2023 | $0.200 | 0.189% |
FAQ
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