ReShape Lifesciences Inc Stock Forecast

Weaker technical forecast for ReShape Lifesciences Inc as stock downgraded to Sell Candidate.
(Updated on May 03, 2024)

RSLS Signals & Forecast

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. 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 $0.170 and $0.170. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -9.99%. Further fall is indicated until a new bottom pivot has been found. 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.

In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.0114 between high and low, or 6.80%. For the last week the stock has had daily average volatility of 6.88%.

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 Monday 6th

For the upcoming trading day on Monday, 6th we expect ReShape Lifesciences Inc to open at $0.172, and during the day (based on 14 day Average True Range), to move between $0.157 and $0.181, which gives a possible trading interval of +/-$0.0121 (+/-7.16%) up or down from last closing price. If ReShape Lifesciences Inc takes out the full calculated possible swing range there will be an estimated 14.32% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.173 (1.89%) than the support at $0.166 (2.13%), 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 is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.685 Sell Candidate Downgraded

Predicted Opening Price for ReShape Lifesciences Inc of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.