Electromed, Inc Stock Forecast

Electromed, Inc stock price down 1.06% on Tuesday
(Updated on Jul 02, 2024)

ELMD 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 Electromed, 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 $14.43 and $15.23. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -24.32%. Further fall is indicated until a new bottom pivot has been found. Electromed, 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 Electromed, Inc stock

Electromed, Inc finds support from accumulated volume at $13.94 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.680 (4.86%) between high and low. For the last week, the stock has had daily average volatility of 4.19%.

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

Trading Expectations (ELMD) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Electromed, Inc to open at $14.23, and during the day (based on 14 day Average True Range), to move between $13.36 and $14.64, which gives a possible trading interval of +/-$0.638 (+/-4.56%) up or down from last closing price. If Electromed, Inc takes out the full calculated possible swing range there will be an estimated 9.12% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $13.94 (0.43%) than the resistance at $14.17 (1.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Electromed, Inc stock A Buy?

Electromed, 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.

Current score: -3.929 Sell Candidate Unchanged

Predicted Opening Price for Electromed, Inc of Wednesday, July 3, 2024

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