Psychemedics Corporation Stock Forecast
Red day on Thursday for Psychemedics Corporation
(Updated on Apr 25, 2024)
The Psychemedics Corporation stock price fell by -3.97% on the last day (Thursday, 25th Apr 2024) from $2.65 to $2.54. During the last trading day the stock fluctuated 3.94% from a day low at $2.54 to a day high of $2.64. The price has fallen in 6 of the last 10 days and is down by -9.93% for this period. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 thousand shares were bought and sold for approximately $7.98 thousand.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.49 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -15.85% during the next 3 months and, with a 90% probability hold a price between $2.09 and $2.41 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PMD Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Psychemedics Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $2.59 and $2.83. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Psychemedics Corporation 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Psychemedics Corporation 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 has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.100 between high and low, or 3.94%. For the last week, the stock has had daily average volatility of 3.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PMD) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Psychemedics Corporation to open at $2.57, and during the day (based on 14 day Average True Range), to move between $2.42 and $2.66, which gives a possible trading interval of +/-$0.116 (+/-4.57%) up or down from last closing price. If Psychemedics Corporation takes out the full calculated possible swing range there will be an estimated 9.15% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $2.96, some $0.420 (16.54%) from the current price of $2.54, our system finds the risk reward not very attractive.
Is Psychemedics Corporation stock A Buy?
Psychemedics Corporation holds several negative signals and is within a 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.
Current score: -4.418 Sell Candidate Unchanged
Predicted Opening Price for Psychemedics Corporation of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $2.57 ( 1.31%) | $2.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PMD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.67 | 5.25 % | |
| R2 | 2.64 | 3.75 % | ||
| R1 | 2.61 | 2.82 % | ||
| Current price: | 2.54 | |||
| Support | S1 | 2.54 | -0.192 % | |
| S2 | 2.51 | -1.12 % | ||
| S3 | 2.47 | -2.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.05 | 20.08 % | |
| R2 | 2.98 | 17.32 % | ||
| R1 | 2.96 | 16.54 % | ||
| Current price | 2.54 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
PMD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2023 | May 24, 2023 | Jun 08, 2023 | $0.0700 | 1.46% |
| 2 | Mar 21, 2023 | Mar 30, 2023 | Apr 10, 2023 | $0.0700 | 1.25% |
| 3 | Nov 09, 2022 | Dec 01, 2022 | Dec 16, 2022 | $0.0700 | 1.41% |
| 4 | Aug 09, 2022 | Aug 23, 2022 | Sep 09, 2022 | $0.0700 | 1.02% |
| 5 | May 10, 2022 | May 26, 2022 | Jun 24, 2022 | $0.0700 | 1.11% |
FAQ
Click here for our free guide on how to buy Psychemedics Corporation Stock.
