Treace Medical Concepts, Inc. Stock Forecast

Buy or Hold candidate since Nov 04, 2024 Gain 61.69%

The Treace Medical Concepts, Inc. stock price gained 3.05% on the last trading day (Monday, 2nd Dec 2024), rising from $8.52 to $8.78. During the last trading day the stock fluctuated 4.74% from a day low at $8.43 to a day high of $8.83. The price has been going up and down for this period, and there has been a 15.37% 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, 185 thousand more shares were traded than the day before. In total, 357 thousand shares were bought and sold for approximately $3.14 million.

The stock lies in the upper part of a very wide and strong rising 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 $8.99 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 53.54% during the next 3 months and, with a 90% probability hold a price between $8.76 and $13.80 at the end of this 3-month period.

Investment opportunities can be found at any hour. So, react immediately to market-moving news and capture more market opportunities when convenient for you. You can trade over 10,000 US Stocks and ETFs, US Equity Index options, US Treasuries – and more - around the clock. Interactive Brokers’ dual market centers ensure reliable and dependable overnight trading on your timetable. (Member SIPC)

TMCI Signals & Forecast

The Treace Medical Concepts, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $8.31 and $6.61. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, November 18, 2024, and so far it has risen 19.13%. 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. 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

On the downside, the stock finds support just below today's level from accumulated volume at $8.29 and $8.04. 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, Treace Medical Concepts, Inc. finds support just below today's level at $8.29. If this is broken, then the next support from accumulated volume will be at $8.04 and $7.78.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.400 between high and low, or 4.74%. For the last week, the stock has had daily average volatility of 5.33%.

Our recommended stop-loss: $8.44 (-3.82%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (TMCI) For The Upcoming Trading Day Of Tuesday 3rd

For the upcoming trading day on Tuesday, 3rd we expect Treace Medical Concepts, Inc. to open at $8.68, and during the day (based on 14 day Average True Range), to move between $8.36 and $9.20, which gives a possible trading interval of +/-$0.422 (+/-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 9.61% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $8.29, some $0.490 (5.58%) from the current price of $8.78, our system finds the risk reward attractive.

Is Treace Medical Concepts, Inc. stock A Buy?

Treace Medical Concepts, Inc. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.313 Strong Buy Candidate Upgraded

Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.

Predicted Fair Opening Price

Predicted fair opening price on December 3, 2024 - $8.68 ( 1.14%).