MEDIFAST INC Stock Forecast
Red day on Tuesday for MEDIFAST INC
(Updated on Jul 02, 2024)
The MEDIFAST INC stock price fell by -2.62% on the last day (Tuesday, 2nd Jul 2024) from $21.03 to $20.48. During the last trading day the stock fluctuated 4.79% from a day low at $20.06 to a day high of $21.02. The price has fallen in 6 of the last 10 days but is still up by 2.5% over the past 2 weeks. Volume has increased on the last day by 18 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 350 thousand shares were bought and sold for approximately $7.17 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -39.08% during the next 3 months and, with a 90% probability hold a price between $11.10 and $14.87 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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MED Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 5.08%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The MEDIFAST INC 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 $20.51 and $22.55. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for MEDIFAST INC stock
MEDIFAST INC finds support from accumulated volume at $20.03 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 $0.96 between high and low, or 4.79%. For the last week, the stock has had daily average volatility of 5.74%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MED) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect MEDIFAST INC to open at $20.52, and during the day (based on 14 day Average True Range), to move between $19.25 and $21.71, which gives a possible trading interval of +/-$1.23 (+/-5.99%) up or down from last closing price. If MEDIFAST INC takes out the full calculated possible swing range there will be an estimated 11.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $20.03 (2.20%) than the resistance at $21.05 (2.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MEDIFAST INC stock A Buy?
MEDIFAST INC 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: -1.546 Sell Candidate Unchanged
Predicted Opening Price for MEDIFAST INC of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $20.52 ( 0.195%) | $20.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MED
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.48 | 4.88% |
| R2 | 21.11 | 3.09% |
| R1 | 20.89 | 1.99% |
| Price | 20.48 | |
| S1 | 20.15 | -1.60% |
| S2 | 19.93 | -2.70% |
| S3 | 19.56 | -4.49% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.36 | 23.83% |
| R2 | 22.02 | 7.52% |
| R1 | 21.05 | 2.78% |
| Price | 20.48 | |
| S1 | 20.03 | -2.20% |
| S2 | 20.00 | -2.34% |
| S3 | 19.71 | -3.76% |
MED Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 07, 2023 | Sep 18, 2023 | Nov 07, 2023 | $1.65 | 2.40% |
| 2 | Jun 15, 2023 | Jun 26, 2023 | Aug 08, 2023 | $1.65 | 1.85% |
| 3 | Mar 16, 2023 | Mar 27, 2023 | May 09, 2023 | $1.65 | 1.89% |
| 4 | Dec 08, 2022 | Dec 19, 2022 | Feb 07, 2023 | $1.64 | 1.43% |
| 5 | Sep 08, 2022 | Sep 19, 2022 | Nov 08, 2022 | $1.64 | 1.50% |
FAQ
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