Titan Medical Inc. Stock Forecast

Red day on Tuesday for Titan Medical Inc.
(Updated on Apr 30, 2024)

TMD.TO Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 9.09%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Titan Medical 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 $0.0704. On a fall, the stock will find some support from the short-term average at $0.0579. 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. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Titan Medical Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0550. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0050 between high and low, or 9.09%. For the last week the stock has had daily average volatility of 10.91%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (TMD.TO) For The Upcoming Trading Day Of Wednesday 1st

For the upcoming trading day on Wednesday, 1st we expect Titan Medical Inc. to open at $0.0583, and during the day (based on 14 day Average True Range), to move between $0.0527 and $0.0673, which gives a possible trading interval of +/-$0.0073 (+/-12.19%) up or down from last closing price. If Titan Medical Inc. takes out the full calculated possible swing range there will be an estimated 24.37% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0550 (8.33%) than the resistance at $0.0650 (8.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Titan Medical Inc. stock A Buy?

Titan Medical 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: -2.924 Sell Candidate Unchanged

Predicted Opening Price for Titan Medical Inc. of Wednesday, May 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.