ResMed Inc. Stock Forecast
A very strong day for ResMed Inc. stock price on Friday
(Updated on Apr 26, 2024)
The ResMed Inc. stock price gained 9.60% on the last trading day (Friday, 26th Apr 2024), rising from $28.74 to $31.50. It has now gained 5 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 3.41% from a day low at $30.54 to a day high of $31.58. The price has risen in 6 of the last 10 days and is up by 6.56% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately $177.77 million.
The stock has broken the wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $30.38, a level that may pose a second chance to hit a runner. According to fan-theory $33.61 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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RMD.AX Signals & Forecast
The ResMed Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $28.74 and $28.94. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 14.01%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for ResMed Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $29.15 and $28.82. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, ResMed Inc. finds support just below today's level at $29.15. If this is broken, then the next support from accumulated volume will be at $28.82 and $27.63.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.04 (3.41%) between high and low. For the last week, the stock has had daily average volatility of 2.12%.
Our recommended stop-loss: $30.36 (-3.62%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (RMD.AX) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect ResMed Inc. to open at $31.21, and during the day (based on 14 day Average True Range), to move between $30.73 and $32.27, which gives a possible trading interval of +/-$0.768 (+/-2.44%) up or down from last closing price. If ResMed Inc. takes out the full calculated possible swing range there will be an estimated 4.87% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $29.15, some $2.35 (7.46%) from the current price of $31.50, our system finds the risk reward attractive.
Is ResMed Inc. stock A Buy?
ResMed 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for ResMed Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $31.21 ( 0.93%) | $31.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RMD.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.25 | 2.37 % | |
| R2 | 31.85 | 1.11 % | ||
| R1 | 31.60 | 0.330 % | ||
| Current price: | 31.50 | |||
| Support | S1 | 30.81 | -2.19 % | |
| S2 | 30.56 | -2.97 % | ||
| S3 | 30.17 | -4.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 31.50 | |||
| Support | S1 | 29.15 | -7.46% | |
| S2 | 28.82 | -8.51% | ||
| S3 | 27.63 | -12.29% |
RMD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 07, 2024 | Feb 07, 2024 | Mar 14, 2024 | $0.0728 | 0.251% |
| 2 | Nov 08, 2023 | Nov 08, 2023 | Nov 08, 2023 | $0 | 0% |
| 3 | Aug 16, 2023 | Aug 16, 2023 | Aug 16, 2023 | $0.0480 | 0.169% |
| 4 | May 10, 2023 | May 10, 2023 | May 10, 2023 | $0.0440 | 0.128% |
| 5 | Feb 08, 2023 | Feb 08, 2023 | Feb 08, 2023 | $0.0440 | 0.138% |
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