Select Medical Holdings Corporation Stock Forecast
Green day on Tuesday for Select Medical Holdings Corporation stock after gaining 1.66%
(Updated on Jul 02, 2024)
The Select Medical Holdings Corporation stock price gained 1.66% on the last trading day (Tuesday, 2nd Jul 2024), rising from $35.57 to $36.16. During the last trading day the stock fluctuated 2.62% from a day low at $35.51 to a day high of $36.44. The price has been going up and down for this period, and there has been a 5.67% gain for the last 2 weeks. Volume fell on the last day by -522 thousand shares and in total, 745 thousand shares were bought and sold for approximately $26.95 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 26.66% during the next 3 months and, with a 90% probability hold a price between $42.07 and $49.62 at the end of this 3-month period.
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SEM Signals & Forecast
Mostly positive signals in the chart today. 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 $34.98 and $34.07. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 36.81%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Select Medical Holdings Corporation stock
Select Medical Holdings Corporation finds support from accumulated volume at $35.57 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.93 between high and low, or 2.62%. For the last week the stock has had daily average volatility of 3.15%.
Our recommended stop-loss: $35.08 (-2.98%) (This stock has low daily movements and this gives low risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 60 days ago.)
Trading Expectations (SEM) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Select Medical Holdings Corporation to open at $36.04, and during the day (based on 14 day Average True Range), to move between $35.28 and $37.04, which gives a possible trading interval of +/-$0.88 (+/-2.44%) 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 4.88% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $35.57, some $0.590 (1.63%) from the current price of $36.16, 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.
Current score: 7.840 Strong Buy Candidate Unchanged
Predicted Opening Price for Select Medical Holdings Corporation of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$36.04 ( 0.341%) | $36.16 |
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 | |
---|---|---|
R3 | 36.97 | 2.23% |
R2 | 36.61 | 1.25% |
R1 | 36.39 | 0.641% |
Price | 36.16 | |
S1 | 35.68 | -1.32% |
S2 | 35.46 | -1.93% |
S3 | 35.11 | -2.91% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0 | - |
Price | 36.16 | |
S1 | 35.57 | -1.63% |
S2 | 35.06 | -3.04% |
S3 | 31.43 | -13.08% |
SEM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 02, 2024 | May 15, 2024 | May 30, 2024 | $0.125 | 0.369% |
2 | Feb 13, 2024 | Feb 29, 2024 | Mar 13, 2024 | $0.125 | 0.437% |
3 | Nov 02, 2023 | Nov 14, 2023 | Nov 28, 2023 | $0.130 | 0.568% |
4 | Aug 03, 2023 | Aug 14, 2023 | Sep 01, 2023 | $0.125 | 0.430% |
5 | May 04, 2023 | May 17, 2023 | Sep 01, 2023 | $0.125 | 0.430% |
FAQ
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