Psychemedics Corporation 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
Psychemedics Corporation stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 03, 2024)
The Psychemedics Corporation stock price fell by -3.27% on the last day (Friday, 3rd May 2024) from $2.64 to $2.55. During the last trading day the stock fluctuated 0% from a day low at $2.55 to a day high of $2.55. The price has risen in 7 of the last 10 days but is still down by -0.78% for this period. 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 -3 thousand shares and in total, 720 shares were bought and sold for approximately $1.84 thousand.
The stock lies in the middle of a 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 -16.26% during the next 3 months and, with a 90% probability hold a price between $2.04 and $2.35 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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PMD Signals & Forecast
There are mixed signals in the stock today. 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 $2.58 and $2.77. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 0.394%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Psychemedics Corporation stock
Psychemedics Corporation finds support from accumulated volume at $2.54 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the 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 5.03%.
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 Monday 6th
For the upcoming trading day on Monday, 6th we expect Psychemedics Corporation to open at $2.55, and during the day (based on 14 day Average True Range), to move between $2.43 and $2.67, which gives a possible trading interval of +/-$0.118 (+/-4.64%) up or down from last closing price. If Psychemedics Corporation takes out the full calculated possible swing range there will be an estimated 9.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.54 (0.39%) than the resistance at $2.96 (16.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Psychemedics Corporation stock A Buy?
Psychemedics Corporation 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 Hold/Accumulate to a Sell candidate.
Current score: -1.644 Sell Candidate Downgraded
Predicted Opening Price for Psychemedics Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $2.55 ( 0%) | $2.55 |
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 | 2.55 | . | |
| R2 | 2.55 | . | ||
| R1 | 2.55 | . | ||
| Current price: | 2.55 | |||
| Support | S1 | 2.55 | . | |
| S2 | 2.55 | . | ||
| S3 | 2.55 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.05 | 19.61 % | |
| R2 | 2.98 | 16.86 % | ||
| R1 | 2.96 | 16.08 % | ||
| Current price | 2.55 | |||
| Support | S1 | 2.54 | -0.392% | |
| 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
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