IRIDEX Corporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Thursday for IRIDEX Corporation stock after gaining 1.05%
(Updated on May 02, 2024)
The IRIDEX Corporation stock price gained 1.05% on the last trading day (Thursday, 2nd May 2024), rising from $2.82 to $2.85. During the last trading day the stock fluctuated 4.84% from a day low at $2.76 to a day high of $2.89. The price has fallen in 6 of the last 10 days and is down by -5.64% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 thousand more shares were traded than the day before. In total, 12 thousand shares were bought and sold for approximately $35.23 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.66 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 19.24% during the next 3 months and, with a 90% probability hold a price between $3.18 and $4.42 at the end of this 3-month period.
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IRIX Signals & Forecast
IRIDEX Corporation 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 IRIDEX Corporation 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 $2.88 and $2.91. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -19.27%. 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).
Support, Risk & Stop-loss for IRIDEX Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.59 and $2.41. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, IRIDEX Corporation finds support just below today's level at $2.59. If this is broken, then the next support from accumulated volume will be at $2.41 and $2.40.
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 $0.134 between high and low, or 4.84%. For the last week, the stock has had daily average volatility of 6.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IRIX) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect IRIDEX Corporation to open at $2.83, and during the day (based on 14 day Average True Range), to move between $2.66 and $3.04, which gives a possible trading interval of +/-$0.187 (+/-6.55%) up or down from last closing price. If IRIDEX Corporation takes out the full calculated possible swing range there will be an estimated 13.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.87 (0.72%) than the support at $2.59 (9.11%), 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.
Earnings coming up
IRIDEX Corporation will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.120. We will update the financials statements for IRIDEX Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.15% in the first trading day after earnings release.
Is IRIDEX Corporation stock A Buy?
The IRIDEX Corporation stock holds several negative signals and despite the positive trend, we believe IRIDEX Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.104 Sell Candidate Unchanged
Predicted Opening Price for IRIDEX Corporation of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $2.83 ( 0.535%) | $2.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IRIX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.97 | 4.15 % | |
| R2 | 2.92 | 2.36 % | ||
| R1 | 2.89 | 1.26 % | ||
| Current price: | 2.85 | |||
| Support | S1 | 2.78 | -2.32 % | |
| S2 | 2.75 | -3.43 % | ||
| S3 | 2.70 | -5.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.53 | 23.88 % | |
| R2 | 2.95 | 3.52 % | ||
| R1 | 2.87 | 0.716 % | ||
| Current price | 2.85 | |||
| Support | S1 | 2.59 | -9.11% | |
| S2 | 2.41 | -15.43% | ||
| S3 | 2.40 | -15.78% |
FAQ
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