LifeMD, Inc. Stock Forecast
LifeMD, Inc. stock price up more than 7.30% on Thursday
(Updated on May 02, 2024)
The LifeMD, Inc. stock price gained 7.30% on the last trading day (Thursday, 2nd May 2024), rising from $11.64 to $12.49. During the last trading day the stock fluctuated 7.39% from a day low at $11.64 to a day high of $12.50. The price has risen in 6 of the last 10 days and is up by 22.33% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 77 thousand more shares were traded than the day before. In total, 597 thousand shares were bought and sold for approximately $7.45 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 65.81% during the next 3 months and, with a 90% probability hold a price between $18.82 and $23.75 at the end of this 3-month period.
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LFMD Signals & Forecast
Mostly positive signals in the chart today. The LifeMD, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $11.69 and $10.55. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 30.38%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for LifeMD, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $10.84 and $10.08. 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, LifeMD, Inc. finds support just below today's level at $10.84. If this is broken, then the next support from accumulated volume will be at $10.08 and $9.77.
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 $0.86 between high and low, or 7.39%. For the last week, the stock has had daily average volatility of 7.53%.
Our recommended stop-loss: $11.88 (-4.87%) (This stock has high daily movements and this gives high risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (LFMD) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect LifeMD, Inc. to open at $12.21, and during the day (based on 14 day Average True Range), to move between $11.78 and $13.20, which gives a possible trading interval of +/-$0.707 (+/-5.66%) up or down from last closing price. If LifeMD, Inc. takes out the full calculated possible swing range there will be an estimated 11.31% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $10.84, some $1.65 (13.21%) from the current price of $12.49, our system finds the risk reward attractive.
Earnings coming up
LifeMD, Inc. will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.130. We will update the financials statements for LifeMD, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.64% in the first trading day after earnings release.
Is LifeMD, Inc. stock A Buy?
LifeMD, Inc. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.684 Strong Buy Candidate Upgraded
Predicted Opening Price for LifeMD, Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $12.21 ( 2.24%) | $12.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LFMD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.07 | 4.64 % | |
| R2 | 12.74 | 2.01 % | ||
| R1 | 12.54 | 0.388 % | ||
| Current price: | 12.49 | |||
| Support | S1 | 11.88 | -4.87 % | |
| S2 | 11.68 | -6.50 % | ||
| S3 | 11.35 | -9.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 12.49 | |||
| Support | S1 | 10.84 | -13.21% | |
| S2 | 10.08 | -19.30% | ||
| S3 | 9.77 | -21.78% |
FAQ
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