Senseonics Stock Forecast
Stronger technical forecast for Senseonics stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Senseonics stock price fell by -0.707% on the last day (Tuesday, 2nd Jul 2024) from $0.396 to $0.393. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.46% from a day low at $0.390 to a day high of $0.400. The price has been going up and down for this period, and there has been a 3.42% gain for the last 2 weeks. Volume has increased on the last day by 85 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $494.25 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -17.46% during the next 3 months and, with a 90% probability hold a price between $0.296 and $0.375 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SENS Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 6.82%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Senseonics stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.423. On a fall, the stock will find some support from the short-term average at $0.390. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Senseonics gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Senseonics stock
Senseonics finds support from accumulated volume at $0.388 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0096 between high and low, or 2.46%. For the last week, the stock has had daily average volatility of 4.35%.
Our recommended stop-loss: $0.381 (-3.14%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 41 days ago.)
Trading Expectations (SENS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Senseonics Holdings Inc to open at $0.394, and during the day (based on 14 day Average True Range), to move between $0.373 and $0.413, which gives a possible trading interval of +/-$0.0200 (+/-5.09%) up or down from last closing price. If Senseonics Holdings Inc takes out the full calculated possible swing range there will be an estimated 10.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.388 (1.17%) than the resistance at $0.402 (2.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Senseonics Holdings Inc stock A Buy?
Senseonics 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.803 Hold/Accumulate Upgraded
Predicted Opening Price for Senseonics Holdings Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.394 ( 0.356%) | $0.393 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SENS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.404 | 2.80% |
| R2 | 0.400 | 1.87% |
| R1 | 0.398 | 1.29% |
| Price | 0.393 | |
| S1 | 0.391 | -0.577% |
| S2 | 0.388 | -1.15% |
| S3 | 0.385 | -2.09% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.437 | 11.22% |
| R2 | 0.432 | 9.95% |
| R1 | 0.402 | 2.34% |
| Price | 0.393 | |
| S1 | 0.388 | -1.17% |
| S2 | 0.380 | -3.31% |
| S3 | 0.368 | -6.39% |
FAQ
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