ReShape Lifesciences Inc Stock Forecast
Red day on Wednesday for ReShape Lifesciences Inc
(Updated on Apr 24, 2024)
The ReShape Lifesciences Inc stock price fell by -1.41% on the last day (Wednesday, 24th Apr 2024) from $0.171 to $0.168. During the last trading day the stock fluctuated 3.91% from a day low at $0.166 to a day high of $0.173. The price has been going up and down for this period, and there has been a 0.78% 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 -65 thousand shares and in total, 115 thousand shares were bought and sold for approximately $19.27 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -14.24% during the next 3 months and, with a 90% probability hold a price between $0.113 and $0.153 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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RSLS Signals & Forecast
There are mixed signals in the stock today. The ReShape Lifesciences Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.170. On a fall, the stock will find some support from the short-term average at $0.167. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -10.63%. 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 $0.166 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0065 between high and low, or 3.91%. For the last week the stock has had daily average volatility of 5.93%.
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 Thursday 25th
For the upcoming trading day on Thursday, 25th we expect ReShape Lifesciences Inc to open at $0.169, and during the day (based on 14 day Average True Range), to move between $0.156 and $0.180, which gives a possible trading interval of +/-$0.0120 (+/-7.14%) up or down from last closing price. If ReShape Lifesciences Inc takes out the full calculated possible swing range there will be an estimated 14.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.169 (0.71%) than the support at $0.166 (1.43%), 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?
ReShape Lifesciences Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -4.158 Sell Candidate Unchanged
Predicted Opening Price for ReShape Lifesciences Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.169 ( 0.575%) | $0.168 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 0.176 | 4.44 % | |
| R2 | 0.173 | 2.96 % | ||
| R1 | 0.172 | 2.05 % | ||
| Current price: | 0.168 | |||
| Support | S1 | 0.167 | -0.90 % | |
| S2 | 0.165 | -1.81 % | ||
| S3 | 0.163 | -3.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.175 | 4.10 % | |
| R2 | 0.173 | 2.62 % | ||
| R1 | 0.169 | 0.714 % | ||
| Current price | 0.168 | |||
| Support | S1 | 0.166 | -1.43% | |
| S2 | 0.159 | -5.18% | ||
| S3 | 0.159 | -5.71% |
FAQ
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