ResMed Inc Stock Forecast
Stronger technical forecast for ResMed Inc stock price after Friday trading.
(Updated on May 03, 2024)
The ResMed Inc stock price fell by -0.536% on the last day (Friday, 3rd May 2024) from $218.15 to $216.98. During the last trading day the stock fluctuated 2.16% from a day low at $216.72 to a day high of $221.40. The price has been going up and down for this period, and there has been a 21.32% gain for the last 2 weeks. 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 -455 thousand shares and in total, 630 thousand shares were bought and sold for approximately $136.63 million.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $218.45 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 9.16% during the next 3 months and, with a 90% probability hold a price between $193.63 and $238.46 at the end of this 3-month period.
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RMD Signals & Forecast
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 $211.83 and $192.86. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -0.536%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for ResMed Inc stock
ResMed Inc finds support from accumulated volume at $213.99 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 $4.68 between high and low, or 2.16%. For the last week, the stock has had daily average volatility of 2.50%.
Our recommended stop-loss: $208.90 (-3.72%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (RMD) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect ResMed Inc to open at $218.37, and during the day (based on 14 day Average True Range), to move between $210.51 and $223.45, which gives a possible trading interval of +/-$6.47 (+/-2.98%) up or down from last closing price. If ResMed Inc takes out the full calculated possible swing range there will be an estimated 5.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $217.19 (0.10%) than the support at $213.99 (1.38%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is ResMed Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.670 Buy Candidate Upgraded
Predicted Opening Price for ResMed Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $218.37 ( 0.639%) | $216.98 |
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 | 223.05 | 2.80 % | |
| R2 | 221.26 | 1.97 % | ||
| R1 | 220.15 | 1.46 % | ||
| Current price: | 216.98 | |||
| Support | S1 | 216.58 | -0.185 % | |
| S2 | 215.47 | -0.694 % | ||
| S3 | 213.69 | -1.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 218.15 | 0.539 % | |
| R2 | 218.06 | 0.498 % | ||
| R1 | 217.19 | 0.0968 % | ||
| Current price | 216.98 | |||
| Support | S1 | 213.99 | -1.38% | |
| S2 | 177.61 | -18.14% | ||
| S3 | 173.83 | -19.89% |
RMD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | May 08, 2024 | Jun 13, 2024 | $0.480 | 0.221% |
| 2 | Jan 24, 2024 | Feb 07, 2024 | Mar 14, 2024 | $0.480 | 0.250% |
| 3 | Oct 26, 2023 | Nov 08, 2023 | Dec 14, 2023 | $0.480 | 0.278% |
| 4 | Aug 03, 2023 | Aug 16, 2023 | Sep 21, 2023 | $0.480 | 0.352% |
| 5 | Apr 27, 2023 | May 10, 2023 | Jun 15, 2023 | $0.440 | 0.201% |
FAQ
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