Nemaura Medical Inc. Stock Forecast
A very red day for Nemaura Medical Inc. stock price after a -36.67% fall in the Tuesday trading session
(Updated on Jul 02, 2024)
The Nemaura Medical Inc. stock price fell by -36.67% on the last day (Tuesday, 2nd Jul 2024) from $0.0600 to $0.0380. During the last trading day the stock fluctuated 0% from a day low at $0.0380 to a day high of $0.0380. The price has been going up and down for this period, and there has been a -15.56% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -12 thousand shares and in total, 499 shares were bought and sold for approximately $18.96 .
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 -40.34% during the next 3 months and, with a 90% probability hold a price between $0.0028 and $0.0354 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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NMRD Signals & Forecast
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 Nemaura Medical 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 $0.0461 and $0.0459. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, July 01, 2024, and so far it has fallen -36.67%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Nemaura Medical Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0333 and $0.0311. 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, Nemaura Medical Inc. finds support just below today's level at $0.0333. If this is broken, then the next support from accumulated volume will be at $0.0311 and $0.0300.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NMRD) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Nemaura Medical Inc. to open at $0.0380, and during the day (based on 14 day Average True Range), to move between $0.0327 and $0.0433, which gives a possible trading interval of +/-$0.0053 (+/-14.04%) up or down from last closing price. If Nemaura Medical Inc. takes out the full calculated possible swing range there will be an estimated 28.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0385 (1.32%) than the support at $0.0333 (12.37%), 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 Nemaura Medical Inc. stock A Buy?
Nemaura Medical 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -4.985 Sell Candidate Downgraded
Predicted Opening Price for Nemaura Medical Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.0380 ( 0%) | $0.0380 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NMRD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0380 | - |
| R2 | 0.0380 | - |
| R1 | 0.0380 | - |
| Price | 0.0380 | |
| S1 | 0.0380 | - |
| S2 | 0.0380 | - |
| S3 | 0.0380 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0451 | 18.68% |
| R2 | 0.0450 | 18.42% |
| R1 | 0.0385 | 1.32% |
| Price | 0.0380 | |
| S1 | 0.0333 | -12.37% |
| S2 | 0.0311 | -18.16% |
| S3 | 0.0300 | -21.05% |
FAQ
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