ResMed Inc. Stock Forecast
Green day on Wednesday for ResMed Inc. stock after gaining 0.86%
(Updated on May 08, 2024)
The ResMed Inc. stock price gained 0.86% on the last trading day (Wednesday, 8th May 2024), rising from $32.69 to $32.97. During the last trading day the stock fluctuated 1.17% from a day low at $32.59 to a day high of $32.97. The price has risen in 7 of the last 10 days and is up by 16.42% over the past 2 weeks. Volume fell on the last day by -333 thousand shares and in total, 1 million shares were bought and sold for approximately $46.65 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 has broken the wide and strong 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 $31.93, a level that may pose a second chance to hit a runner. According to fan-theory $35.34 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
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 $32.82 and $29.90. 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 19.33%. 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 $32.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.380 between high and low, or 1.17%. For the last week, the stock has had daily average volatility of 1.16%.
The ResMed Inc. stock is extremely overbought on RSI14 (77). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $31.99 (-2.96%) (This stock has high daily movements and this gives high risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (RMD.AX) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect ResMed Inc. to open at $32.84, and during the day (based on 14 day Average True Range), to move between $32.31 and $33.63, which gives a possible trading interval of +/-$0.663 (+/-2.01%) up or down from last closing price. If ResMed Inc. takes out the full calculated possible swing range there will be an estimated 4.02% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $32.58, some $0.390 (1.18%) from the current price of $32.97, our system finds the risk reward attractive.
Earnings coming up
ResMed Inc. will release earnings BMO on Wednesday, May 15, 2024. We will update the financials statements for ResMed Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.75% in the first trading day after earnings release.
Is ResMed Inc. stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for ResMed Inc. stock to perform well in the short-term period.
Current score: 3.681 Buy Candidate Unchanged
Predicted Opening Price for ResMed Inc. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $32.84 ( 0.384%) | $32.97 |
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 | 33.22 | 0.768 % | |
| R2 | 33.08 | 0.328 % | ||
| R1 | 32.99 | 0.0561 % | ||
| Current price: | 32.97 | |||
| Support | S1 | 32.70 | -0.82 % | |
| S2 | 32.61 | -1.10 % | ||
| S3 | 32.46 | -1.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 32.97 | |||
| Support | S1 | 32.58 | -1.18% | |
| S2 | 29.15 | -11.59% | ||
| S3 | 27.63 | -16.20% |
RMD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 08, 2024 | May 08, 2024 | Jun 13, 2024 | $0.0735 | 0.223% |
| 2 | Feb 07, 2024 | Feb 07, 2024 | Mar 14, 2024 | $0.0728 | 0.251% |
| 3 | Nov 08, 2023 | Nov 08, 2023 | Nov 08, 2023 | $0 | 0% |
| 4 | Aug 16, 2023 | Aug 16, 2023 | Aug 16, 2023 | $0.0480 | 0.169% |
| 5 | May 10, 2023 | May 10, 2023 | May 10, 2023 | $0.0440 | 0.128% |
FAQ
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