Treace Medical Concepts, Inc. Stock Forecast
Stronger technical forecast for Treace Medical Concepts, Inc. stock price after Monday trading.
(Updated on Jun 17, 2024)
The Treace Medical Concepts, Inc. stock price gained 0.496% on the last trading day (Monday, 17th Jun 2024), rising from $6.05 to $6.08. During the last trading day the stock fluctuated 6.96% from a day low at $5.75 to a day high of $6.15. The price has risen in 5 of the last 10 days and is up by 10.95% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 238 thousand more shares were traded than the day before. In total, 888 thousand shares were bought and sold for approximately $5.40 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $6.96 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -57.38% during the next 3 months and, with a 90% probability hold a price between $0.0663 and $2.96 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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TMCI Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 45.80%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Treace Medical Concepts, 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 $6.49. On a fall, the stock will find some support from the short-term average at $5.96. 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.
Support, Risk & Stop-loss for Treace Medical Concepts, Inc. stock
Treace Medical Concepts, Inc. finds support from accumulated volume at $5.95 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 $0.400 between high and low, or 6.96%. For the last week, the stock has had daily average volatility of 6.23%.
Our recommended stop-loss: $5.86 (-3.64%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (TMCI) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Treace Medical Concepts, Inc. to open at $5.99, and during the day (based on 14 day Average True Range), to move between $5.56 and $6.60, which gives a possible trading interval of +/-$0.524 (+/-8.62%) up or down from last closing price. If Treace Medical Concepts, Inc. takes out the full calculated possible swing range there will be an estimated 17.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.11 (0.49%) than the support at $5.95 (2.14%), 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 Treace Medical Concepts, Inc. stock A Buy?
Treace Medical Concepts, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.022 Hold/Accumulate Upgraded
Predicted Opening Price for Treace Medical Concepts, Inc. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $5.99 ( 1.43%) | $6.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TMCI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.39 | 5.15% |
| R2 | 6.24 | 2.64% |
| R1 | 6.15 | 1.09% |
| Price | 6.08 | |
| S1 | 5.84 | -3.94% |
| S2 | 5.75 | -5.49% |
| S3 | 5.59 | -8.00% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 6.11 | 0.493% |
| Price | 6.08 | |
| S1 | 5.95 | -2.14% |
| S2 | 5.75 | -5.43% |
| S3 | 5.00 | -17.76% |
FAQ
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