Nuwellis, Inc. Stock Forecast

Big movements in Nuwellis, Inc. stock price on Tuesday moving 28.89% between high and low
(Updated on Jul 02, 2024)

NUWE Signals & Forecast

The Nuwellis, 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 $2.10 and $0.606. 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 Friday, June 28, 2024, and so far it has fallen -18.89%. Further fall is indicated until a new bottom pivot has been found. Nuwellis, Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Nuwellis, Inc. stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 $1.15 between high and low, or 28.89%. For the last week, the stock has had daily average volatility of 32.63%.

Our recommended stop-loss: $3.90 (-4.36%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 82 and this increases the risk substantially. There is a sell signal from a pivot top found 42 days ago.)

Trading Expectations (NUWE) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Nuwellis, Inc. to open at $4.40, and during the day (based on 14 day Average True Range), to move between $3.52 and $4.64, which gives a possible trading interval of +/-$0.558 (+/-13.68%) up or down from last closing price. If Nuwellis, Inc. takes out the full calculated possible swing range there will be an estimated 27.37% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $4.87, some $0.790 (19.36%) from the current price of $4.08, our system finds the risk reward not very attractive.

Is Nuwellis, Inc. stock A Buy?

Nuwellis, 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: 0.874 Hold/Accumulate Downgraded

Predicted Opening Price for Nuwellis, Inc. of Wednesday, July 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.