icad inc. Stock Forecast
icad inc. stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on May 01, 2024)
No changes to the price of icad inc. stock on the last trading day (Wednesday, 1st May 2024). During the last trading day the stock fluctuated 9.18% from a day low at $1.40 to a day high of $1.53. The price has fallen in 5 of the last 10 days and is down by -8.33% for this period.
The stock has broken the very wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $1.43. A reaction back to this level may hold a second chance to get out before further falls.
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ICAD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. The icad 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 $1.49 and $1.59. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for icad inc. stock
icad inc. finds support from accumulated volume at $1.40 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 $0.129 between high and low, or 9.18%. For the last week, the stock has had daily average volatility of 6.65%.
icad inc. is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ICAD) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect icad inc. to open at $1.45, and during the day (based on 14 day Average True Range), to move between $1.31 and $1.55, which gives a possible trading interval of +/-$0.123 (+/-8.61%) up or down from last closing price. If icad inc. takes out the full calculated possible swing range there will be an estimated 17.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.40 (2.10%) than the resistance at $1.60 (11.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is icad inc. stock A Buy?
The icad inc. stock holds several negative signals and despite the positive trend, we believe icad inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.210 Sell Candidate Downgraded
Predicted Opening Price for icad inc. of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$1.45 ( 1.66%) | $1.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ICAD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.58 | 10.66 % | |
R2 | 1.53 | 7.22 % | ||
R1 | 1.50 | 5.10 % | ||
Current price: | 1.43 | |||
Support | S1 | 1.40 | -1.78 % | |
S2 | 1.37 | -3.90 % | ||
S3 | 1.33 | -7.34 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.76 | 23.08 % | |
R2 | 1.63 | 13.99 % | ||
R1 | 1.60 | 11.89 % | ||
Current price | 1.43 | |||
Support | S1 | 1.40 | -2.10% | |
S2 | 1.39 | -2.80% | ||
S3 | 1.38 | -3.50% |
FAQ
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