Establishment Labs Holdings Inc. Stock Forecast
Red day on Monday for Establishment Labs Holdings Inc.
(Updated on Jun 17, 2024)
The Establishment Labs Holdings Inc. stock price fell by -2.86% on the last day (Monday, 17th Jun 2024) from $44.48 to $43.21. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 5.99% from a day low at $42.74 to a day high of $45.30. The price has fallen in 7 of the last 10 days and is down by -16.62% for this period. Volume has increased on the last day by 84 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, 650 thousand shares were bought and sold for approximately $28.09 million.
Given the current horizontal trend, you can expect Establishment Labs Holdings Inc. stock with a 90% probability to be traded between $43.03 and $59.52 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ESTA Signals & Forecast
There are few to no technical positive signals at the moment. The Establishment Labs Holdings 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 $46.15 and $52.05. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -27.81%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Establishment Labs Holdings Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $2.56 between high and low, or 5.99%. For the last week, the stock has had daily average volatility of 5.08%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ESTA) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Establishment Labs Holdings Inc. to open at $43.75, and during the day (based on 14 day Average True Range), to move between $40.44 and $45.98, which gives a possible trading interval of +/-$2.77 (+/-6.40%) up or down from last closing price. If Establishment Labs Holdings Inc. takes out the full calculated possible swing range there will be an estimated 12.80% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $44.48, some $1.27 (2.94%) from the current price of $43.21, our system finds the risk reward not very attractive.
Is Establishment Labs Holdings Inc. stock A Buy?
Establishment Labs Holdings 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: -4.326 Sell Candidate Unchanged
Predicted Opening Price for Establishment Labs Holdings Inc. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $43.75 ( 1.25%) | $43.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ESTA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 46.31 | 7.17% |
| R2 | 45.33 | 4.91% |
| R1 | 44.73 | 3.51% |
| Price | 43.21 | |
| S1 | 42.77 | -1.01% |
| S2 | 42.17 | -2.41% |
| S3 | 41.19 | -4.67% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 53.89 | 24.72% |
| R2 | 50.45 | 16.76% |
| R1 | 44.48 | 2.94% |
| Price | 43.21 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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