ICU Medical Stock Forecast
ICU Medical stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 03, 2024)
The ICU Medical stock price gained 0.96% on the last trading day (Friday, 3rd May 2024), rising from $99.04 to $99.99. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 3.01% from a day low at $98.68 to a day high of $101.65. The price has risen in 8 of the last 10 days and is up by 4.41% over the past 2 weeks. Volume fell on the last day by -175 thousand shares and in total, 161 thousand shares were bought and sold for approximately $16.14 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a 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 -4.39% during the next 3 months and, with a 90% probability hold a price between $89.92 and $104.00 at the end of this 3-month period.
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ICUI Signals & Forecast
Mostly positive signals in the chart today. The ICU Medical stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $97.43 and $99.29. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 5.78%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for ICU Medical stock
ICU Medical finds support from accumulated volume at $99.04 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 $2.98 between high and low, or 3.01%. For the last week, the stock has had daily average volatility of 2.93%.
Since the ICU Medical has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $96.31 (-3.68%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (ICUI) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect ICU Medical to open at $100.11, and during the day (based on 14 day Average True Range), to move between $96.74 and $103.24, which gives a possible trading interval of +/-$3.25 (+/-3.25%) up or down from last closing price. If ICU Medical takes out the full calculated possible swing range there will be an estimated 6.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $99.04 (0.95%) than the resistance at $103.51 (3.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
ICU Medical will release earnings BMO on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.84. We will update the financials statements for ICU Medical, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.70% in the first trading day after earnings release.
Is ICU Medical stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.549 Buy Candidate Upgraded
Predicted Opening Price for ICU Medical of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $100.11 ( 0.115%) | $99.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ICUI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 103.08 | 3.09 % | |
| R2 | 101.94 | 1.95 % | ||
| R1 | 101.24 | 1.25 % | ||
| Current price: | 99.99 | |||
| Support | S1 | 98.97 | -1.02 % | |
| S2 | 98.27 | -1.72 % | ||
| S3 | 97.13 | -2.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 112.48 | 12.49 % | |
| R2 | 105.39 | 5.40 % | ||
| R1 | 103.51 | 3.52 % | ||
| Current price | 99.99 | |||
| Support | S1 | 99.04 | -0.95% | |
| S2 | 96.80 | -3.19% | ||
| S3 | 95.00 | -4.99% |
FAQ
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