Select Medical Holdings Corporation Stock Forecast
Select Medical Holdings Corporation stock upgraded from Buy Candidate to Strong Buy Candidate after Wednesday trading session.
(Updated on Mar 27, 2024)
The Select Medical Holdings Corporation stock price gained 2.43% on the last trading day (Wednesday, 27th Mar 2024), rising from $28.75 to $29.45. During the last trading day the stock fluctuated 1.72% from a day low at $29.05 to a day high of $29.55. The price has risen in 6 of the last 10 days and is up by 3.01% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 200 thousand more shares were traded than the day before. In total, 400 thousand shares were bought and sold for approximately $11.77 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 14.60% during the next 3 months and, with a 90% probability hold a price between $31.49 and $34.87 at the end of this 3-month period.
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SEM Signals & Forecast
The Select Medical Holdings Corporation 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 $29.00 and $27.77. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 28, 2024, and so far it has risen 8.67%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Select Medical Holdings Corporation stock
Select Medical Holdings Corporation finds support from accumulated volume at $28.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.500 (1.72%) between high and low. For the last week, the stock has had daily average volatility of 1.71%.
Our recommended stop-loss: $27.79 (-5.64%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (SEM) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Select Medical Holdings Corporation to open at $29.35, and during the day (based on 14 day Average True Range), to move between $28.81 and $30.09, which gives a possible trading interval of +/-$0.642 (+/-2.18%) up or down from last closing price. If Select Medical Holdings Corporation takes out the full calculated possible swing range there will be an estimated 4.36% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $28.50, some $0.95 (3.23%) from the current price of $29.45, our system finds the risk reward attractive.
Is Select Medical Holdings Corporation stock A Buy?
Select Medical Holdings Corporation holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.678 Strong Buy Candidate Upgraded
Predicted Opening Price for Select Medical Holdings Corporation of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$29.35 ( 0.339%) | $29.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SEM
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 29.85 | 1.36 % | |
R2 | 29.66 | 0.710 % | ||
R1 | 29.54 | 0.309 % | ||
Current price: | 29.45 | |||
Support | S1 | 29.16 | -0.99 % | |
S2 | 29.04 | -1.39 % | ||
S3 | 28.85 | -2.04 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 29.45 | |||
Support | S1 | 28.50 | -3.23% | |
S2 | 26.87 | -8.76% | ||
S3 | 26.15 | -11.21% |
SEM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 13, 2024 | Feb 29, 2024 | Mar 13, 2024 | $0.125 | 0.437% |
2 | Nov 02, 2023 | Nov 14, 2023 | Nov 28, 2023 | $0.130 | 0.568% |
3 | Aug 03, 2023 | Aug 14, 2023 | Sep 01, 2023 | $0.125 | 0.430% |
4 | May 04, 2023 | May 17, 2023 | Sep 01, 2023 | $0.125 | 0.430% |
5 | Feb 16, 2023 | Mar 02, 2023 | Mar 15, 2023 | $0.125 | 0.499% |
FAQ
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