Electromed, Inc Stock Forecast
Electromed, Inc stock price up 1.50% on Wednesday
(Updated on May 01, 2024)
The Electromed, Inc stock price gained 1.50% on the last trading day (Wednesday, 1st May 2024), rising from $17.39 to $17.65. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.12% from a day low at $17.00 to a day high of $17.71. The price has risen in 7 of the last 10 days and is up by 24.91% 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, 9 thousand more shares were traded than the day before. In total, 47 thousand shares were bought and sold for approximately $825.17 thousand.
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 28.29% during the next 3 months and, with a 90% probability hold a price between $18.70 and $25.24 at the end of this 3-month period.
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ELMD Signals & Forecast
Mostly positive signals in the chart today. The Electromed, 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 $16.64 and $15.97. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 26.61%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Electromed, Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Electromed, Inc stock
Electromed, Inc finds support from accumulated volume at $17.52 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.701 between high and low, or 4.12%. For the last week, the stock has had daily average volatility of 6.34%.
Our recommended stop-loss: $17.02 (-3.56%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (ELMD) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Electromed, Inc to open at $17.45, and during the day (based on 14 day Average True Range), to move between $16.78 and $18.52, which gives a possible trading interval of +/-$0.87 (+/-4.92%) up or down from last closing price. If Electromed, Inc takes out the full calculated possible swing range there will be an estimated 9.83% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $17.52, some $0.130 (0.74%) from the current price of $17.65, our system finds the risk reward attractive.
Earnings coming up
Electromed, Inc will release earnings AMC on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.130. We will update the financials statements for Electromed, Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.28% in the first trading day after earnings release.
Is Electromed, Inc stock A Buy?
Electromed, Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 7.176 Strong Buy Candidate Unchanged
Predicted Opening Price for Electromed, Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $17.45 ( 1.12%) | $17.65 |
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 | 18.15 | 2.86 % | |
| R2 | 17.89 | 1.34 % | ||
| R1 | 17.72 | 0.401 % | ||
| Current price: | 17.65 | |||
| Support | S1 | 17.19 | -2.63 % | |
| S2 | 17.02 | -3.57 % | ||
| S3 | 16.75 | -5.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 17.65 | |||
| Support | S1 | 17.52 | -0.737% | |
| S2 | 14.99 | -15.07% | ||
| S3 | 13.74 | -22.15% |
FAQ
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