Neuronetics Inc. Stock Forecast
Neuronetics Inc. stock price down 0.783% on Friday
(Updated on Apr 19, 2024)
The Neuronetics Inc. stock price fell by -0.783% on the last day (Friday, 19th Apr 2024) from $3.83 to $3.80. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 7.45% from a day low at $3.76 to a day high of $4.04. The price has fallen in 7 of the last 10 days and is down by -6.86% 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 -37 thousand shares and in total, 48 thousand shares were bought and sold for approximately $182.69 thousand.
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 32.45% during the next 3 months and, with a 90% probability hold a price between $4.57 and $6.74 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
STIM Signals & Forecast
There are few to no technical positive signals at the moment. The Neuronetics Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $4.06 and $4.14. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -21.00%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Neuronetics Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.35 and $3.00. 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, Neuronetics Inc. finds support just below today's level at $3.35. If this is broken, then the next support from accumulated volume will be at $3.00 and $2.97.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.280 between high and low, or 7.45%. For the last week the stock has had daily average volatility of 6.40%.
Neuronetics Inc. is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (STIM) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Neuronetics Inc. to open at $3.87, and during the day (based on 14 day Average True Range), to move between $3.50 and $4.10, which gives a possible trading interval of +/-$0.301 (+/-7.93%) up or down from last closing price. If Neuronetics Inc. takes out the full calculated possible swing range there will be an estimated 15.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.02 (5.79%) than the support at $3.35 (11.84%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Neuronetics Inc. stock A Buy?
The Neuronetics Inc. stock holds several negative signals and despite the positive trend, we believe Neuronetics Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.721 Sell Candidate Unchanged
Predicted Opening Price for Neuronetics Inc. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $3.87 ( 1.75%) | $3.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STIM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.15 | 9.12 % | |
| R2 | 4.04 | 6.31 % | ||
| R1 | 3.97 | 4.57 % | ||
| Current price: | 3.80 | |||
| Support | S1 | 3.76 | -1.06 % | |
| S2 | 3.69 | -2.80 % | ||
| S3 | 3.59 | -5.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.71 | 23.95 % | |
| R2 | 4.23 | 11.32 % | ||
| R1 | 4.02 | 5.79 % | ||
| Current price | 3.80 | |||
| Support | S1 | 3.35 | -11.84% | |
| S2 | 3.00 | -21.05% | ||
| S3 | 2.97 | -21.84% |
FAQ
Click here for our free guide on how to buy Neuronetics Inc. Stock.
