Trxade Group Inc. Stock Forecast
Evaluation of Trxade Group Inc. stock downgraded after the last trading session.
(Updated on Jun 25, 2024)
The Trxade Group Inc. stock price gained 4.16% on the last trading day (Tuesday, 25th Jun 2024), rising from $8.42 to $8.77. During the last trading day the stock fluctuated 8.09% from a day low at $8.41 to a day high of $9.09. The price has been going up and down for this period, and there has been a 47.52% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 thousand more shares were traded than the day before. In total, 31 thousand shares were bought and sold for approximately $270.50 thousand.
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 $9.55 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 -14.52% during the next 3 months and, with a 90% probability hold a price between $4.22 and $8.16 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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MEDS Signals & Forecast
The Trxade Group 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 $8.71 and $6.68. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Trxade Group Inc. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -9.12%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Trxade Group Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $7.31 and $7.08. 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, Trxade Group Inc. finds support just below today's level at $7.31. If this is broken, then the next support from accumulated volume will be at $7.08 and $6.93.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.680 between high and low, or 8.09%. For the last week, the stock has had daily average volatility of 15.66%.
Our recommended stop-loss: $8.35 (-4.81%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 26 days ago.)
Trading Expectations (MEDS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Trxade Group Inc. to open at $8.76, and during the day (based on 14 day Average True Range), to move between $7.83 and $9.71, which gives a possible trading interval of +/-$0.94 (+/-10.66%) up or down from last closing price. If Trxade Group Inc. takes out the full calculated possible swing range there will be an estimated 21.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.24 (5.36%) than the support at $7.31 (16.65%), 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 Trxade Group Inc. stock A Buy?
Trxade Group Inc. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.792 Hold/Accumulate Downgraded
Predicted Opening Price for Trxade Group Inc. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $8.76 ( 0.152%) | $8.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MEDS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.44 | 7.60% |
| R2 | 9.18 | 4.64% |
| R1 | 9.02 | 2.81% |
| Price | 8.77 | |
| S1 | 8.50 | -3.11% |
| S2 | 8.34 | -4.94% |
| S3 | 8.08 | -7.91% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.65 | 10.03% |
| R2 | 9.28 | 5.82% |
| R1 | 9.24 | 5.36% |
| Price | 8.77 | |
| S1 | 7.31 | -16.65% |
| S2 | 7.08 | -19.27% |
| S3 | 6.93 | -20.98% |
MEDS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Mar 25, 2024 | Mar 22, 2024 | $8.00 | 33.24% |
| 2 | Mar 15, 2024 | Mar 15, 2024 | Mar 15, 2024 | $0 | 0% |
FAQ
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