Select Medical Holdings Corporation Stock Forecast

Select Medical Holdings Corporation stock price ended at $36.16 on Tuesday, after gaining 1.66%.
(Updated on Jul 02, 2024)

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

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