Allscripts Healthcare Solutions Stock Forecast
Allscripts Healthcare Solutions stock price up 1.34% on Wednesday
(Updated on Apr 17, 2024)
The Allscripts Healthcare Solutions stock price gained 1.34% on the last trading day (Wednesday, 17th Apr 2024), rising from $7.45 to $7.55. During the last trading day the stock fluctuated 6.04% from a day low at $7.45 to a day high of $7.90. The price has fallen in 7 of the last 10 days and is down by -3.82% for this period. Volume fell on the last day by -352 thousand shares and in total, 216 thousand shares were bought and sold for approximately $1.63 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 the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $7.80 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -17.80% during the next 3 months and, with a 90% probability hold a price between $4.19 and $6.41 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
MDRX Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Allscripts Healthcare Solutions stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $7.71 and $7.62. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -10.12%. 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 Allscripts Healthcare Solutions stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.81 and $6.13. 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, Allscripts Healthcare Solutions finds support just below today's level at $6.81. If this is broken, then the next support from accumulated volume will be at $6.13 and $5.99.
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 $0.450 between high and low, or 6.04%. For the last week, the stock has had daily average volatility of 5.20%.
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 Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Allscripts Healthcare Solutions to open at $7.63, and during the day (based on 14 day Average True Range), to move between $6.94 and $8.16, which gives a possible trading interval of +/-$0.608 (+/-8.05%) up or down from last closing price. If Allscripts Healthcare Solutions takes out the full calculated possible swing range there will be an estimated 16.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.60 (0.66%) than the support at $6.81 (9.80%), 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.
Is Allscripts Healthcare Solutions stock A Buy?
Allscripts Healthcare Solutions holds several negative signals and is within a very 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.
Current score: -3.607 Sell Candidate Unchanged
Predicted Opening Price for Allscripts Healthcare Solutions of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $7.63 ( 1.10%) | $7.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MDRX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.08 | 7.06 % | |
| R2 | 7.91 | 4.79 % | ||
| R1 | 7.81 | 3.38 % | ||
| Current price: | 7.55 | |||
| Support | S1 | 7.46 | -1.17 % | |
| S2 | 7.36 | -2.58 % | ||
| S3 | 7.18 | -4.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.39 | 11.13 % | |
| R2 | 8.05 | 6.62 % | ||
| R1 | 7.60 | 0.662 % | ||
| Current price | 7.55 | |||
| Support | S1 | 6.81 | -9.80% | |
| S2 | 6.13 | -18.81% | ||
| S3 | 5.99 | -20.66% |
MDRX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 13, 2008 | Oct 13, 2008 | Oct 17, 2008 | $5.23 | 98.12% |
FAQ
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