ReShape Lifesciences Inc Stock Forecast
Red day on Tuesday for ReShape Lifesciences Inc stock after losing 3.17%
(Updated on Jul 02, 2024)
The ReShape Lifesciences Inc stock price fell by -3.17% on the last day (Tuesday, 2nd Jul 2024) from $0.199 to $0.193. During the last trading day the stock fluctuated 4.14% from a day low at $0.191 to a day high of $0.199. The price has fallen in 5 of the last 10 days and is down by -6.37% 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 -42 thousand shares and in total, 205 thousand shares were bought and sold for approximately $39.44 thousand.
Given the current short-term trend, the stock is expected to rise 23.22% during the next 3 months and, with a 90% probability hold a price between $0.237 and $0.371 at the end of this 3-month period.
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RSLS Signals & Forecast
There are few to no technical positive signals at the moment. The ReShape Lifesciences Inc 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 $0.197 and $0.205. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 29, 2024, and so far it has fallen -31.18%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for ReShape Lifesciences Inc stock
ReShape Lifesciences Inc finds support from accumulated volume at $0.185 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0079 between high and low, or 4.14%. For the last week the stock has had daily average volatility of 6.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RSLS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect ReShape Lifesciences Inc to open at $0.194, and during the day (based on 14 day Average True Range), to move between $0.167 and $0.219, which gives a possible trading interval of +/-$0.0262 (+/-13.57%) up or down from last closing price. If ReShape Lifesciences Inc takes out the full calculated possible swing range there will be an estimated 27.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.195 (1.35%) than the support at $0.185 (3.89%), 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 ReShape Lifesciences Inc stock A Buy?
The ReShape Lifesciences Inc stock holds several negative signals and despite the positive trend, we believe ReShape Lifesciences Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.487 Sell Candidate Unchanged
Predicted Opening Price for ReShape Lifesciences Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.194 ( 0.778%) | $0.193 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RSLS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.202 | 4.88% |
| R2 | 0.199 | 3.31% |
| R1 | 0.197 | 2.34% |
| Price | 0.193 | |
| S1 | 0.191 | -0.788% |
| S2 | 0.189 | -1.76% |
| S3 | 0.186 | -3.32% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.211 | 9.39% |
| R2 | 0.197 | 1.97% |
| R1 | 0.195 | 1.35% |
| Price | 0.193 | |
| S1 | 0.185 | -3.89% |
| S2 | 0.176 | -8.56% |
| S3 | 0.175 | -9.19% |
FAQ
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