Treace Medical Concepts, Inc. Stock Forecast
Green day on Friday for Treace Medical Concepts, Inc.
(Updated on May 03, 2024)
The Treace Medical Concepts, Inc. stock price gained 2.71% on the last trading day (Friday, 3rd May 2024), rising from $10.71 to $11.00. During the last trading day the stock fluctuated 3.88% from a day low at $10.82 to a day high of $11.24. The price has been going up and down for this period, and there has been a 0.27% gain 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, 203 thousand more shares were traded than the day before. In total, 433 thousand shares were bought and sold for approximately $4.76 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -29.01% during the next 3 months and, with a 90% probability hold a price between $6.69 and $8.18 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 Thursday, April 25, 2024, and so far it has risen 6.80%. Further rise is indicated until a new top pivot has been found. 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 $11.66. On a fall, the stock will find some support from the short-term average at $10.61. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Treace Medical Concepts, Inc. stock
Treace Medical Concepts, Inc. finds support from accumulated volume at $10.86 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 $0.420 between high and low, or 3.88%. For the last week, the stock has had daily average volatility of 4.70%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TMCI) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Treace Medical Concepts, Inc. to open at $11.02, and during the day (based on 14 day Average True Range), to move between $10.47 and $11.53, which gives a possible trading interval of +/-$0.529 (+/-4.81%) 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 9.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.86 (1.27%) than the resistance at $11.88 (8.00%), 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
Treace Medical Concepts, Inc. will release earnings AMC on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.300. We will update the financials statements for Treace Medical Concepts, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.48% in the first trading day after earnings release.
Is Treace Medical Concepts, Inc. stock A Buy?
Treace Medical Concepts, 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: -1.770 Sell Candidate Unchanged
Predicted Opening Price for Treace Medical Concepts, Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $11.02 ( 0.182%) | $11.00 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 11.44 | 4.00 % | |
| R2 | 11.28 | 2.54 % | ||
| R1 | 11.18 | 1.64 % | ||
| Current price: | 11.00 | |||
| Support | S1 | 10.86 | -1.28 % | |
| S2 | 10.76 | -2.18 % | ||
| S3 | 10.60 | -3.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.52 | 22.91 % | |
| R2 | 12.36 | 12.36 % | ||
| R1 | 11.88 | 8.00 % | ||
| Current price | 11.00 | |||
| Support | S1 | 10.86 | -1.27% | |
| S2 | 10.40 | -5.45% | ||
| S3 | 10.37 | -5.73% |
FAQ
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