Spectral Medical Inc Stock Forecast
Spectral Medical Inc stock price took a fall of -5.66% on Friday
(Updated on May 17, 2024)
The Spectral Medical Inc stock price fell by -5.66% on the last day (Friday, 17th May 2024) from $0.530 to $0.500. During the last trading day the stock fluctuated 6.00% from a day low at $0.500 to a day high of $0.530. The price has risen in 6 of the last 10 days and is up by 16.28% over the past 2 weeks. Volume has increased on the last day by 116 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 116 thousand shares were bought and sold for approximately $58.20 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.529 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -12.30% during the next 3 months and, with a 90% probability hold a price between $0.307 and $0.464 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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EDT.TO Signals & Forecast
The Spectral Medical 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 $0.500 and $0.454. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -5.66%. Further fall is indicated until a new bottom pivot has been found. Spectral Medical 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Spectral Medical Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.475 and $0.450. 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, Spectral Medical Inc finds support just below today's level at $0.475. If this is broken, then the next support from accumulated volume will be at $0.450 and $0.420.
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 $0.0300 between high and low, or 6.00%. For the last week, the stock has had daily average volatility of 6.71%.
Our recommended stop-loss: $0.476 (-4.82%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (EDT.TO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Spectral Medical Inc to open at $0.510, and during the day (based on 14 day Average True Range), to move between $0.470 and $0.530, which gives a possible trading interval of +/-$0.0303 (+/-6.06%) up or down from last closing price. If Spectral Medical Inc takes out the full calculated possible swing range there will be an estimated 12.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.510 (2.00%) than the support at $0.475 (5.00%), 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 Spectral Medical Inc stock A Buy?
Spectral Medical Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Spectral Medical Inc of Tuesday, May 21, 2024
Fair opening price May 21, 2024 | Current price |
---|---|
$0.510 ( 2.00%) | $0.500 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EDT.TO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.540 | 8.00 % | |
R2 | 0.529 | 5.71 % | ||
R1 | 0.521 | 4.29 % | ||
Current price: | 0.500 | |||
Support | S1 | 0.499 | -0.292 % | |
S2 | 0.491 | -1.71 % | ||
S3 | 0.480 | -4.00 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.560 | 12.00 % | |
R2 | 0.540 | 8.00 % | ||
R1 | 0.510 | 2.00 % | ||
Current price | 0.500 | |||
Support | S1 | 0.475 | -5.00% | |
S2 | 0.450 | -10.00% | ||
S3 | 0.420 | -16.00% |
EDT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 19, 2011 | Dec 19, 2011 | Dec 19, 2011 | $0.120 | 47.06% |
FAQ
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