EDAP TMS S.A. Stock Forecast
EDAP TMS S.A. stock price ended at $7.09 on Tuesday, after losing 0.84%.
(Updated on Apr 23, 2024)
The EDAP TMS S.A. stock price fell by -0.84% on the last day (Tuesday, 23rd Apr 2024) from $7.15 to $7.09. During the last trading day the stock fluctuated 3.97% from a day low at $7.00 to a day high of $7.28. The price has fallen in 8 of the last 10 days and is down by -16.59% for this period. 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 -5 thousand shares and in total, 18 thousand shares were bought and sold for approximately $126.93 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $6.84 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 25.02% during the next 3 months and, with a 90% probability hold a price between $8.55 and $10.98 at the end of this 3-month period.
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EDAP Signals & Forecast
There are few to no technical positive signals at the moment. The EDAP TMS S.A. 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 $7.25 and $7.55. 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 -16.59%. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for EDAP TMS S.A. stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.34 and $6.32. 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, EDAP TMS S.A. finds support just below today's level at $6.34. If this is broken, then the next support from accumulated volume will be at $6.32 and $6.05.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.278 between high and low, or 3.97%. For the last week the stock has had daily average volatility of 4.59%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EDAP) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect EDAP TMS S.A. to open at $7.12, and during the day (based on 14 day Average True Range), to move between $6.78 and $7.40, which gives a possible trading interval of +/-$0.312 (+/-4.40%) up or down from last closing price. If EDAP TMS S.A. takes out the full calculated possible swing range there will be an estimated 8.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.10 (0.14%) than the support at $6.34 (10.58%), 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 EDAP TMS S.A. stock A Buy?
The EDAP TMS S.A. stock holds several negative signals and despite the positive trend, we believe EDAP TMS S.A. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.571 Sell Candidate Unchanged
Predicted Opening Price for EDAP TMS S.A. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $7.12 ( 0.462%) | $7.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EDAP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.40 | 4.39 % | |
| R2 | 7.29 | 2.89 % | ||
| R1 | 7.23 | 1.96 % | ||
| Current price: | 7.09 | |||
| Support | S1 | 7.02 | -1.04 % | |
| S2 | 6.95 | -1.96 % | ||
| S3 | 6.84 | -3.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.34 | 17.63 % | |
| R2 | 7.60 | 7.19 % | ||
| R1 | 7.10 | 0.141 % | ||
| Current price | 7.09 | |||
| Support | S1 | 6.34 | -10.58% | |
| S2 | 6.32 | -10.86% | ||
| S3 | 6.05 | -14.74% |
FAQ
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