Sofwave Medical Ltd. Stock Forecast
Red day on Thursday for Sofwave Medical Ltd. stock after losing 1.24%
(Updated on Jun 27, 2024)
The Sofwave Medical Ltd. stock price fell by -1.24% on the last day (Thursday, 27th Jun 2024) from ₪1,772.00 to ₪1,750.00. During the last trading day the stock fluctuated 1.26% from a day low at ₪1,750.00 to a day high of ₪1,772.00. The price has risen in 5 of the last 10 days and is up by 0.81% over the past 2 weeks. Volume has increased on the last day by 76 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, 367 shares were bought and sold for approximately ₪642.25 thousand.
The stock lies the upper part of a wide and falling 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 ₪1,767.92 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -11.79% during the next 3 months and, with a 90% probability hold a price between ₪1,341.79 and ₪1,559.43 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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SOFW.TA Signals & Forecast
The Sofwave Medical Ltd. 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 ₪1,744.86 and ₪1,720.20. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 8.09%. 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. Sofwave Medical Ltd. 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 Sofwave Medical Ltd. stock
Sofwave Medical Ltd. finds support from accumulated volume at ₪1,730.00 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 ₪22.00 (1.26%) between high and low. For the last week, the stock has had daily average volatility of 1.67%.
Our recommended stop-loss: ₪1,698.90 (-2.92%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 69 days ago.)
Trading Expectations (SOFW.TA) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Sofwave Medical Ltd. to open at ₪1,757.33, and during the day (based on 14 day Average True Range), to move between ₪1,702.75 and ₪1,797.25, which gives a possible trading interval of +/-₪47.25 (+/-2.70%) up or down from last closing price. If Sofwave Medical Ltd. takes out the full calculated possible swing range there will be an estimated 5.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₪1,730.00 (1.14%) than the resistance at ₪1,778.00 (1.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sofwave Medical Ltd. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.801 Buy Candidate Unchanged
Predicted Opening Price for Sofwave Medical Ltd. of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| ₪1,757.33 ( 0.419%) | ₪1,750.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOFW.TA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,779.33 | 1.68% |
| R2 | 1,770.93 | 1.20% |
| R1 | 1,765.74 | 0.90% |
| Price | 1,750.00 | |
| S1 | 1,748.93 | -0.0612% |
| S2 | 1,743.74 | -0.358% |
| S3 | 1,735.33 | -0.84% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,918.00 | 9.60% |
| R2 | 1,779.00 | 1.66% |
| R1 | 1,778.00 | 1.60% |
| Price | 1,750.00 | |
| S1 | 1,730.00 | -1.14% |
| S2 | 1,720.00 | -1.71% |
| S3 | 1,706.00 | -2.51% |
FAQ
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