Big movements in Allscripts Healthcare Solutions stock price on Friday moving 24.24% between high and low
(Updated on Dec 08, 2023)
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The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($11.38) are considered to be a "second chance" to get out. According to the fan-theory $10.19 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
MDRX Signals & Forecast
There are few to no technical positive signals at the moment. The Allscripts Healthcare Solutions 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 $11.89 and $12.60. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, December 07, 2023, and so far it has fallen -20.02%. 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.
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Support, Risk & Stop-loss for Allscripts Healthcare Solutions 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 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 $2.39 between high and low, or 24.24%. For the last week, the stock has had daily average volatility of 7.09%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MDRX) For The Upcoming Trading Day Of Monday 11th
For the upcoming trading day on Monday, 11th we expect Allscripts Healthcare Solutions to open at $10.73, and during the day (based on 14 day Average True Range), to move between $9.49 and $10.65, which gives a possible trading interval of +/-$0.580 (+/-5.76%) up or down from last closing price. If Allscripts Healthcare Solutions takes out the full calculated possible swing range there will be an estimated 11.52% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $12.13, some $2.06 (20.46%) from the current price of $10.07, our system finds the risk reward not very attractive.
Is Allscripts Healthcare Solutions stock A Buy?
Allscripts Healthcare Solutions holds several negative signals and is within a 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.454 Open Broker AccountStrong Sell Candidate Downgraded
Predicted Opening Price for Allscripts Healthcare Solutions of Monday, December 11, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 11, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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