Tela Bio, Inc. Stock Forecast
A very strong day for Tela Bio, Inc. stock price on Friday
(Updated on Jun 21, 2024)
The Tela Bio, Inc. stock price gained 5.02% on the last trading day (Friday, 21st Jun 2024), rising from $5.18 to $5.44. During the last trading day the stock fluctuated 5.22% from a day low at $5.17 to a day high of $5.44. The price has been going up and down for this period, and there has been a -4.9% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 59 thousand more shares were traded than the day before. In total, 115 thousand shares were bought and sold for approximately $626.93 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 10.92% during the next 3 months and, with a 90% probability hold a price between $5.32 and $7.33 at the end of this 3-month period.
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TELA Signals & Forecast
There are mixed signals in the stock today. The Tela Bio, Inc. 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 $5.56. On a fall, the stock will find some support from the short-term average at $5.39. 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. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -14.47%. 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). Tela Bio, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Tela Bio, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $4.97 and $4.92. 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, Tela Bio, Inc. finds support just below today's level at $4.97. If this is broken, then the next support from accumulated volume will be at $4.92 and $4.63.
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 $0.270 between high and low, or 5.22%. For the last week, the stock has had daily average volatility of 6.27%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TELA) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Tela Bio, Inc. to open at $5.35, and during the day (based on 14 day Average True Range), to move between $5.12 and $5.76, which gives a possible trading interval of +/-$0.316 (+/-5.81%) up or down from last closing price. If Tela Bio, Inc. takes out the full calculated possible swing range there will be an estimated 11.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.72 (5.15%) than the support at $4.97 (8.64%), 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 Tela Bio, Inc. stock A Buy?
Tela Bio, Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.270 Sell Candidate Unchanged
Predicted Opening Price for Tela Bio, Inc. of Monday, June 24, 2024
Fair opening price June 24, 2024 | Current price |
---|---|
$5.35 ( 1.65%) | $5.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TELA
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 5.62 | 3.31% |
R2 | 5.52 | 1.41% |
R1 | 5.45 | 0.242% |
Price | 5.44 | |
S1 | 5.25 | -3.55% |
S2 | 5.18 | -4.72% |
S3 | 5.08 | -6.62% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 5.77 | 6.07% |
R2 | 5.73 | 5.33% |
R1 | 5.72 | 5.15% |
Price | 5.44 | |
S1 | 4.97 | -8.64% |
S2 | 4.92 | -9.56% |
S3 | 4.63 | -14.89% |
FAQ
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