CorMedix Inc Stock Forecast
On Wednesday, CorMedix Inc stock price gained an impressive 5.04%
(Updated on May 01, 2024)
The CorMedix Inc stock price gained 5.04% on the last trading day (Wednesday, 1st May 2024), rising from $5.26 to $5.52. During the last trading day the stock fluctuated 8.99% from a day low at $5.23 to a day high of $5.70. The price has fallen in 6 of the last 10 days but is still up by 1.47% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 528 thousand more shares were traded than the day before. In total, 895 thousand shares were bought and sold for approximately $4.94 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 67.26% during the next 3 months and, with a 90% probability hold a price between $8.44 and $11.77 at the end of this 3-month period.
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CRMD Signals & Forecast
The CorMedix Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $5.33 and $4.74. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -13.62%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for CorMedix Inc stock
CorMedix Inc finds support from accumulated volume at $5.38 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.470 between high and low, or 8.99%. For the last week, the stock has had daily average volatility of 5.30%.
Our recommended stop-loss: $5.19 (-6.05%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (CRMD) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect CorMedix Inc to open at $5.48, and during the day (based on 14 day Average True Range), to move between $5.14 and $5.90, which gives a possible trading interval of +/-$0.376 (+/-6.80%) up or down from last closing price. If CorMedix Inc takes out the full calculated possible swing range there will be an estimated 13.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.38 (2.54%) than the resistance at $5.84 (5.80%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CorMedix Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for CorMedix Inc stock to perform well in the short-term.
Current score: 3.766 Buy Candidate Unchanged
Predicted Opening Price for CorMedix Inc of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$5.48 ( 0.664%) | $5.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CRMD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.95 | 7.85 % | |
R2 | 5.77 | 4.60 % | ||
R1 | 5.66 | 2.59 % | ||
Current price: | 5.52 | |||
Support | S1 | 5.30 | -3.92 % | |
S2 | 5.19 | -5.93 % | ||
S3 | 5.01 | -9.18 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 6.39 | 15.76 % | ||
R1 | 5.84 | 5.80 % | ||
Current price | 5.52 | |||
Support | S1 | 5.38 | -2.54% | |
S2 | 5.28 | -4.35% | ||
S3 | 4.18 | -24.28% |
FAQ
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