Trxade Group Inc. Stock Forecast
Volatile ride for Trxade Group Inc. stock price on Thursday moving between $9.01 and $10.74
(Updated on Mar 28, 2024)
The Trxade Group Inc. stock price gained 7.23% on the last trading day (Thursday, 28th Mar 2024), rising from $9.55 to $10.24. During the last trading day the stock fluctuated 19.20% from a day low at $9.01 to a day high of $10.74. The price has been going up and down for this period, and there has been a -64.87% loss 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, 49 thousand more shares were traded than the day before. In total, 113 thousand shares were bought and sold for approximately $1.16 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $9.86 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 101.65% during the next 3 months and, with a 90% probability hold a price between $19.88 and $75.88 at the end of this 3-month period.
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MEDS Signals & Forecast
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. The Trxade Group Inc. 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 $14.91 and $13.79. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -69.79%. 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 Trxade Group Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $9.51 and $9.09. 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 $9.51. If this is broken, then the next support from accumulated volume will be at $9.09 and $8.46.
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 $1.73 between high and low, or 19.20%. For the last week, the stock has had daily average volatility of 27.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MEDS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Trxade Group Inc. to open at $10.00, and during the day (based on 14 day Average True Range), to move between $5.81 and $14.67, which gives a possible trading interval of +/-$4.43 (+/-43.30%) up or down from last closing price. If Trxade Group Inc. takes out the full calculated possible swing range there will be an estimated 86.60% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $9.51, some $0.730 (7.13%) from the current price of $10.24, our system finds the risk reward attractive.
Is Trxade Group Inc. stock A Buy?
The Trxade Group Inc. stock holds several negative signals and despite the positive trend, we believe Trxade Group Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -5.388 Strong Sell Candidate Unchanged
Predicted Opening Price for Trxade Group Inc. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$10.00 ( 2.38%) | $10.24 |
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 | |||
---|---|---|---|---|
Resistance | R3 | 11.73 | 14.52 % | |
R2 | 11.07 | 8.06 % | ||
R1 | 10.66 | 4.08 % | ||
Current price: | 10.24 | |||
Support | S1 | 9.34 | -8.83 % | |
S2 | 8.93 | -12.82 % | ||
S3 | 8.27 | -19.27 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 10.24 | |||
Support | S1 | 9.51 | -7.13% | |
S2 | 9.09 | -11.23% | ||
S3 | 8.46 | -17.38% |
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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