Electromed, Inc Stock Forecast
Electromed, Inc stock upgraded to Hold/Accumulate.
(Updated on Apr 18, 2024)
The Electromed, Inc stock price fell by -1.34% on the last day (Thursday, 18th Apr 2024) from $14.13 to $13.94. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.96% from a day low at $13.90 to a day high of $14.45. The price has fallen in 9 of the last 10 days and is down by -10.3% for this period. Volume has increased on the last day by 12 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, 26 thousand shares were bought and sold for approximately $366.41 thousand.
Given the current short-term trend, the stock is expected to rise 50.43% during the next 3 months and, with a 90% probability hold a price between $20.97 and $29.70 at the end of this 3-month period.
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ELMD Signals & Forecast
There are few to no technical positive signals at the moment. 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 $14.46 and $15.93. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -20.84%. 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). 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 $13.74 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 $0.550 between high and low, or 3.96%. For the last week, the stock has had daily average volatility of 5.24%.
Electromed, Inc is oversold on RSI14 (10). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: $13.41 (-3.80%) (This stock has high daily movements and this gives high risk. Low RSI14 is 10 which reduces the risk some. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (ELMD) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Electromed, Inc to open at $14.10, and during the day (based on 14 day Average True Range), to move between $13.20 and $14.68, which gives a possible trading interval of +/-$0.736 (+/-5.28%) up or down from last closing price. If Electromed, Inc takes out the full calculated possible swing range there will be an estimated 10.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.74 (1.43%) than the resistance at $14.99 (7.53%), 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 this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.818 Hold/Accumulate Upgraded
Predicted Opening Price for Electromed, Inc of Friday, April 19, 2024
Fair opening price April 19, 2024 | Current price |
---|---|
$14.10 ( 1.12%) | $13.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ELMD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14.65 | 5.07 % | |
R2 | 14.44 | 3.56 % | ||
R1 | 14.31 | 2.63 % | ||
Current price: | 13.94 | |||
Support | S1 | 13.89 | -0.383 % | |
S2 | 13.76 | -1.31 % | ||
S3 | 13.55 | -2.82 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 17.19 | 23.31 % | |
R2 | 16.50 | 18.36 % | ||
R1 | 14.99 | 7.53 % | ||
Current price | 13.94 | |||
Support | S1 | 13.74 | -1.43% | |
S2 | 13.47 | -3.37% | ||
S3 | 12.20 | -12.48% |
FAQ
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