NeuroMetrix Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Big movements in NeuroMetrix stock price on Tuesday moving 11.10% between high and low
(Updated on Apr 23, 2024)
The NeuroMetrix stock price fell by -2.87% on the last day (Tuesday, 23rd Apr 2024) from $4.57 to $4.44. During the last trading day the stock fluctuated 11.10% from a day low at $4.22 to a day high of $4.69. The price has been going up and down for this period, and there has been a 16.82% gain 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 -64 thousand shares and in total, 28 thousand shares were bought and sold for approximately $123.25 thousand.
The stock lies in the upper part of a very wide and strong rising 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 $4.59 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 31.19% during the next 3 months and, with a 90% probability hold a price between $4.72 and $6.02 at the end of this 3-month period.
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NURO Signals & Forecast
The NeuroMetrix 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 $3.94 and $3.93. 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). 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 Monday, April 22, 2024, and so far it has fallen -2.87%. 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.
Support, Risk & Stop-loss for NeuroMetrix stock
NeuroMetrix finds support from accumulated volume at $4.33 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.469 between high and low, or 11.10%. For the last week the stock has had daily average volatility of 9.23%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NURO) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect NeuroMetrix to open at $4.45, and during the day (based on 14 day Average True Range), to move between $4.17 and $4.70, which gives a possible trading interval of +/-$0.265 (+/-5.97%) up or down from last closing price. If NeuroMetrix takes out the full calculated possible swing range there will be an estimated 11.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.33 (2.46%) than the resistance at $4.57 (2.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
NeuroMetrix will release earnings BMO on Wednesday, May 01, 2024. We will update the financials statements for NeuroMetrix, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 17.86% in the first trading day after earnings release.
Is NeuroMetrix stock A Buy?
NeuroMetrix holds several negative signals and we believe that 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 Buy to a Sell candidate.
Current score: -1.106 Sell Candidate Downgraded
Predicted Opening Price for NeuroMetrix of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $4.45 ( 0.252%) | $4.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NURO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.92 | 10.81 % | |
| R2 | 4.74 | 6.77 % | ||
| R1 | 4.63 | 4.28 % | ||
| Current price: | 4.44 | |||
| Support | S1 | 4.27 | -3.78 % | |
| S2 | 4.16 | -6.27 % | ||
| S3 | 3.98 | -10.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 4.57 | 2.95 % | ||
| Current price | 4.44 | |||
| Support | S1 | 4.33 | -2.46% | |
| S2 | 4.27 | -3.81% | ||
| S3 | 3.69 | -16.87% |
NURO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 14, 2007 | Mar 28, 2007 | Nov 19, 2019 | $1,728.00 | 6,084.51% |
FAQ
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