STAAR Surgical Company Stock Forecast
STAAR Surgical Company stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The STAAR Surgical Company stock price fell by -1.94% on the last day (Thursday, 25th Apr 2024) from $47.82 to $46.89. During the last trading day the stock fluctuated 3.59% from a day low at $45.42 to a day high of $47.05. The price has fallen in 6 of the last 10 days and is down by -9.13% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -217 thousand shares and in total, 348 thousand shares were bought and sold for approximately $16.30 million.
The stock lies in the middle of a very 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 67.49% during the next 3 months and, with a 90% probability hold a price between $73.25 and $94.92 at the end of this 3-month period.
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STAA Signals & Forecast
The STAAR Surgical Company stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $46.99. On a fall, the stock will find some support from the long-term average at approximately $42.59. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -10.26%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for STAAR Surgical Company stock
STAAR Surgical Company finds support from accumulated volume at $45.51 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.63 between high and low, or 3.59%. For the last week, the stock has had daily average volatility of 3.49%.
Our recommended stop-loss: $44.19 (-5.76%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (STAA) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect STAAR Surgical Company to open at $46.45, and during the day (based on 14 day Average True Range), to move between $44.71 and $49.07, which gives a possible trading interval of +/-$2.18 (+/-4.64%) up or down from last closing price. If STAAR Surgical Company takes out the full calculated possible swing range there will be an estimated 9.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $45.51 (2.94%) than the resistance at $48.68 (3.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
STAAR Surgical Company will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0500. We will update the financials statements for STAAR Surgical Company, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.08% in the first trading day after earnings release.
Is STAAR Surgical Company stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for STAAR Surgical Company stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.499 Buy Candidate Upgraded
Predicted Opening Price for STAAR Surgical Company of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $46.45 ( 0.93%) | $46.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STAA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 48.08 | 2.54 % | |
| R2 | 47.46 | 1.22 % | ||
| R1 | 47.08 | 0.397 % | ||
| Current price: | 46.89 | |||
| Support | S1 | 45.83 | -2.26 % | |
| S2 | 45.45 | -3.08 % | ||
| S3 | 44.82 | -4.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 52.25 | 11.43 % | |
| R2 | 49.49 | 5.54 % | ||
| R1 | 48.68 | 3.82 % | ||
| Current price | 46.89 | |||
| Support | S1 | 45.51 | -2.94% | |
| S2 | 38.78 | -17.30% | ||
| S3 | 37.72 | -19.56% |
FAQ
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