MDxHealth SA Stock Forecast
A very strong day for MDxHealth SA stock price on Friday
(Updated on May 03, 2024)
The MDxHealth SA stock price gained 5.72% on the last trading day (Friday, 3rd May 2024), rising from $2.97 to $3.14. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 7.41% from a day low at $2.97 to a day high of $3.19. The price has risen in 7 of the last 10 days and is up by 40.81% 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, 49 thousand more shares were traded than the day before. In total, 169 thousand shares were bought and sold for approximately $530.76 thousand.
Given the current short-term trend, the stock is expected to fall -31.68% during the next 3 months and, with a 90% probability hold a price between $1.36 and $2.15 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.
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MDXH Signals & Forecast
The MDxHealth SA 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 $2.67 and $2.54. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 40.81%. 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). MDxHealth SA 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. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for MDxHealth SA stock
MDxHealth SA finds support from accumulated volume at $3.08 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.220 between high and low, or 7.41%. For the last week, the stock has had daily average volatility of 6.26%.
The MDxHealth SA stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $3.04 (-3.28%) (This stock has high daily movements and this gives high risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (MDXH) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect MDxHealth SA to open at $3.10, and during the day (based on 14 day Average True Range), to move between $2.96 and $3.32, which gives a possible trading interval of +/-$0.179 (+/-5.69%) up or down from last closing price. If MDxHealth SA takes out the full calculated possible swing range there will be an estimated 11.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.08 (1.91%) than the resistance at $3.51 (11.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MDxHealth SA stock A Buy?
MDxHealth SA holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for MDxHealth SA of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $3.10 ( 1.27%) | $3.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MDXH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.32 | 5.73 % | |
| R2 | 3.24 | 3.06 % | ||
| R1 | 3.18 | 1.40 % | ||
| Current price: | 3.14 | |||
| Support | S1 | 3.02 | -3.95 % | |
| S2 | 2.96 | -5.60 % | ||
| S3 | 2.88 | -8.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.60 | 14.65 % | |
| R2 | 3.60 | 14.52 % | ||
| R1 | 3.51 | 11.78 % | ||
| Current price | 3.14 | |||
| Support | S1 | 3.08 | -1.91% | |
| S2 | 2.97 | -5.41% | ||
| S3 | 2.93 | -6.69% |
FAQ
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