Tela Bio, Inc. Stock Forecast
Tela Bio, Inc. stock price down 0.384% on Wednesday
(Updated on Jun 26, 2024)
The Tela Bio, Inc. stock price fell by -0.384% on the last day (Wednesday, 26th Jun 2024) from $5.21 to $5.19. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 7.80% from a day low at $5.13 to a day high of $5.53. The price has fallen in 6 of the last 10 days and is down by -7.49% 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 -26 thousand shares and in total, 105 thousand shares were bought and sold for approximately $542.59 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $4.87 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 11.81% during the next 3 months and, with a 90% probability hold a price between $5.44 and $7.45 at the end of this 3-month period.
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TELA Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 2.17%. 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 Tela Bio, 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 $5.27 and $5.61. 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 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 Tela Bio, Inc. stock
Tela Bio, Inc. finds support from accumulated volume at $4.97 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.400 between high and low, or 7.80%. For the last week the stock has had daily average volatility of 5.39%.
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 Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Tela Bio, Inc. to open at $5.28, and during the day (based on 14 day Average True Range), to move between $4.88 and $5.50, which gives a possible trading interval of +/-$0.315 (+/-6.07%) up or down from last closing price. If Tela Bio, Inc. takes out the full calculated possible swing range there will be an estimated 12.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.30 (2.12%) than the support at $4.97 (4.24%), 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?
The Tela Bio, Inc. stock holds several negative signals and despite the positive trend, we believe Tela Bio, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.779 Sell Candidate Unchanged
Predicted Opening Price for Tela Bio, Inc. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $5.28 ( 1.80%) | $5.19 |
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 | 5.68 | 9.51% |
| R2 | 5.53 | 6.56% |
| R1 | 5.44 | 4.74% |
| Price | 5.19 | |
| S1 | 5.13 | -1.15% |
| S2 | 5.04 | -2.96% |
| S3 | 4.88 | -5.91% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.77 | 11.18% |
| R2 | 5.72 | 10.21% |
| R1 | 5.30 | 2.12% |
| Price | 5.19 | |
| S1 | 4.97 | -4.24% |
| S2 | 4.92 | -5.20% |
| S3 | 4.63 | -10.79% |
FAQ
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