Electromedical Technologies, Inc. Stock Forecast
High volatility in Electromedical Technologies, Inc. stock price on Monday which ended trading at $0.0006
(Updated on May 20, 2024)
The Electromedical Technologies, Inc. stock price gained 10.00% on the last trading day (Monday, 20th May 2024), rising from $0.0005 to $0.0006. During the last trading day the stock fluctuated 10.00% from a day low at $0.0005 to a day high of $0.0006. The price has fallen in 5 of the last 10 days and is down by -31.25% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $1.01 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -18.10% during the next 3 months and, with a 90% probability hold a price between $0.0003 and $0.0006 at the end of this 3-month period.
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EMED Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Electromedical Technologies, 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Electromedical Technologies, Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.0006. On a fall, the stock will find some support from the short-term average at $0.0005. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.
A buy signal from a double bottom formation was found on Tuesday, May 14, 2024 and based on theory for this formation the price should go up by 97.40% to $0.0011 within 14 trading days since signal was issued (Tuesday, May 21, 2024).
Support, Risk & Stop-loss for Electromedical Technologies, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0005 and $0.0005. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0005 may give a huge drop in the stock price.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.00005 between high and low, or 10.00%. For the last week, the stock has had daily average volatility of 6.50%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EMED) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Electromedical Technologies, Inc. to open at $0.0005, and during the day (based on 14 day Average True Range), to move between $0.0005 and $0.0006, which gives a possible trading interval of +/-$0.00009279 (+/-16.87%) up or down from last closing price. If Electromedical Technologies, Inc. takes out the full calculated possible swing range there will be an estimated 33.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0006 (1.82%) than the support at $0.0005 (9.09%), 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 Electromedical Technologies, Inc. stock A Buy?
Electromedical Technologies, Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.317 Sell Candidate Upgraded
Predicted Opening Price for Electromedical Technologies, Inc. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $0.0005 ( 3.03%) | $0.0006 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EMED
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0006 | 6.06 % | |
| R2 | 0.0006 | 2.59 % | ||
| R1 | 0.0006 | 0.442 % | ||
| Current price: | 0.0006 | |||
| Support | S1 | 0.0005 | -6.50 % | |
| S2 | 0.0005 | -8.65 % | ||
| S3 | 0.0005 | -12.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0007 | 18.18 % | |
| R2 | 0.0006 | 9.09 % | ||
| R1 | 0.0006 | 1.82 % | ||
| Current price | 0.0006 | |||
| Support | S1 | 0.0005 | -9.09% | |
| S2 | 0.0005 | -16.36% | ||
| S3 | 0 | . |
FAQ
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