ResMed Inc Stock Forecast
Green day on Wednesday for ResMed Inc
(Updated on Mar 27, 2024)
The ResMed Inc stock price gained 1.11% on the last trading day (Wednesday, 27th Mar 2024), rising from $194.18 to $196.33. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.31% from a day low at $194.21 to a day high of $196.75. The price has risen in 6 of the last 10 days and is up by 2.01% over the past 2 weeks. Volume fell on the last day by -523 thousand shares and in total, 542 thousand shares were bought and sold for approximately $106.40 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.85% during the next 3 months and, with a 90% probability hold a price between $199.54 and $228.62 at the end of this 3-month period.
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RMD Signals & Forecast
Mostly positive signals in the chart today. The ResMed 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 $193.56 and $185.78. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, February 29, 2024, and so far it has risen 13.02%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for ResMed Inc stock
ResMed Inc finds support from accumulated volume at $190.15 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.54 between high and low, or 1.31%. For the last week, the stock has had daily average volatility of 1.32%.
Our recommended stop-loss: $186.36 (-5.08%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (RMD) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect ResMed Inc to open at $195.76, and during the day (based on 14 day Average True Range), to move between $192.40 and $200.26, which gives a possible trading interval of +/-$3.93 (+/-2.00%) up or down from last closing price. If ResMed Inc takes out the full calculated possible swing range there will be an estimated 4.00% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $190.15, some $6.18 (3.15%) from the current price of $196.33, our system finds the risk reward attractive.
Is ResMed Inc stock A Buy?
ResMed Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.905 Strong Buy Candidate Unchanged
Predicted Opening Price for ResMed Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$195.76 ( 0.289%) | $196.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RMD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 198.30 | 1.01 % | |
R2 | 197.33 | 0.511 % | ||
R1 | 196.73 | 0.206 % | ||
Current price: | 196.33 | |||
Support | S1 | 194.79 | -0.783 % | |
S2 | 194.19 | -1.09 % | ||
S3 | 193.22 | -1.58 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 196.33 | |||
Support | S1 | 190.15 | -3.15% | |
S2 | 186.35 | -5.08% | ||
S3 | 171.78 | -12.50% |
RMD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 24, 2024 | Feb 07, 2024 | Mar 14, 2024 | $0.480 | 0.250% |
2 | Oct 26, 2023 | Nov 08, 2023 | Dec 14, 2023 | $0.480 | 0.278% |
3 | Aug 03, 2023 | Aug 16, 2023 | Sep 21, 2023 | $0.480 | 0.352% |
4 | Apr 27, 2023 | May 10, 2023 | Jun 15, 2023 | $0.440 | 0.201% |
5 | Jan 26, 2023 | Feb 08, 2023 | Jun 15, 2023 | $0.440 | 0.201% |
FAQ
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