Streamline Health Solutions Stock Forecast
High volatility in Streamline Health Solutions stock price on Wednesday which ended trading at $0.357
(Updated on Apr 17, 2024)
The Streamline Health Solutions stock price gained 7.89% on the last trading day (Wednesday, 17th Apr 2024), rising from $0.331 to $0.357. During the last trading day the stock fluctuated 20.92% from a day low at $0.331 to a day high of $0.400. The price has fallen in 6 of the last 10 days and is down by -24.26% for this period. Volume fell on the last day by -1 thousand shares and in total, 8 thousand shares were bought and sold for approximately $2.97 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.333 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 9.17% during the next 3 months and, with a 90% probability hold a price between $0.363 and $0.702 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.
STRM Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 8.21%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Streamline Health Solutions 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 $0.368 and $0.474. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Streamline Health Solutions stock
Streamline Health Solutions finds support from accumulated volume at $0.345 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 very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0692 between high and low, or 20.92%. For the last week the stock has had daily average volatility of 14.69%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (STRM) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Streamline Health Solutions to open at $0.363, and during the day (based on 14 day Average True Range), to move between $0.307 and $0.407, which gives a possible trading interval of +/-$0.0502 (+/-14.07%) up or down from last closing price. If Streamline Health Solutions takes out the full calculated possible swing range there will be an estimated 28.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.345 (3.39%) than the resistance at $0.380 (6.41%), 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
Streamline Health Solutions will release earnings BMO on Wednesday, April 24, 2024. We will update the financials statements for Streamline Health Solutions, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 11.09% in the first trading day after earnings release.
Is Streamline Health Solutions stock A Buy?
The Streamline Health Solutions stock holds several negative signals and despite the positive trend, we believe Streamline Health Solutions will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.247 Sell Candidate Unchanged
Predicted Opening Price for Streamline Health Solutions of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $0.363 ( 1.55%) | $0.357 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STRM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.432 | 20.93 % | |
| R2 | 0.405 | 13.53 % | ||
| R1 | 0.389 | 8.95 % | ||
| Current price: | 0.357 | |||
| Support | S1 | 0.336 | -5.85 % | |
| S2 | 0.320 | -10.43 % | ||
| S3 | 0.293 | -17.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.400 | 12.01 % | |
| R2 | 0.390 | 9.21 % | ||
| R1 | 0.380 | 6.41 % | ||
| Current price | 0.357 | |||
| Support | S1 | 0.345 | -3.39% | |
| S2 | 0.340 | -4.79% | ||
| S3 | 0.330 | -7.59% |
FAQ
Click here for our free guide on how to buy Streamline Health Solutions Stock.
