Select Medical Holdings Corporation Stock Forecast
Select Medical Holdings Corporation stock downgraded to Hold/Accumulate
(Updated on Mar 28, 2024)
The Select Medical Holdings Corporation stock price gained 2.38% on the last trading day (Thursday, 28th Mar 2024), rising from $29.45 to $30.15. During the last trading day the stock fluctuated 1.65% from a day low at $29.77 to a day high of $30.26. The price has risen in 7 of the last 10 days and is up by 6.88% 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, 64 thousand more shares were traded than the day before. In total, 463 thousand shares were bought and sold for approximately $13.97 million.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $30.49 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 14.54% during the next 3 months and, with a 90% probability hold a price between $31.54 and $34.92 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 $29.15 and $27.89. 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 11.25%. 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
On the downside, the stock finds support just below today's level from accumulated volume at $28.50 and $26.87. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Select Medical Holdings Corporation finds support just below today's level at $28.50. If this is broken, then the next support from accumulated volume will be at $26.87 and $26.15.
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 $0.490 (1.65%) between high and low. For the last week, the stock has had daily average volatility of 1.69%.
Our recommended stop-loss: $28.55 (-5.29%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (SEM) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Select Medical Holdings Corporation to open at $30.06, and during the day (based on 14 day Average True Range), to move between $29.50 and $30.80, which gives a possible trading interval of +/-$0.655 (+/-2.17%) 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 4.34% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $28.50, some $1.65 (5.47%) from the current price of $30.15, our system finds the risk reward attractive.
Is Select Medical Holdings Corporation stock A Buy?
Select Medical Holdings Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Select Medical Holdings Corporation of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$30.06 ( 0.299%) | $30.15 |
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 | 30.55 | 1.33 % | |
R2 | 30.36 | 0.706 % | ||
R1 | 30.25 | 0.322 % | ||
Current price: | 30.15 | |||
Support | S1 | 29.87 | -0.92 % | |
S2 | 29.76 | -1.30 % | ||
S3 | 29.57 | -1.92 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 30.15 | |||
Support | S1 | 28.50 | -5.47% | |
S2 | 26.87 | -10.88% | ||
S3 | 26.15 | -13.27% |
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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