Titan Medical Inc. Stock Forecast
Titan Medical Inc. stock price took a fall of -9.09% on Friday
(Updated on May 17, 2024)
The Titan Medical Inc. stock price fell by -9.09% on the last day (Friday, 17th May 2024) from $0.0550 to $0.0500. During the last trading day the stock fluctuated 10.00% from a day low at $0.0500 to a day high of $0.0550. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks. 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 -5 thousand shares and in total, 17 thousand shares were bought and sold for approximately $851.85 .
The stock lies in the middle of a very 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 -43.89% during the next 3 months and, with a 90% probability hold a price between $0.0238 and $0.0335 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
TMD.TO Signals & Forecast
There are mixed signals in the stock today. The Titan Medical 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 $0.0557 and $0.0607. A break-up above any of these levels will issue buy signals. 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. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has fallen 0%. 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).
Support, Risk & Stop-loss for Titan Medical Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0050 between high and low, or 10.00%. For the last week the stock has had daily average volatility of 7.82%.
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 Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Titan Medical Inc. to open at $0.0517, and during the day (based on 14 day Average True Range), to move between $0.0447 and $0.0553, which gives a possible trading interval of +/-$0.0053 (+/-10.55%) up or down from last closing price. If Titan Medical Inc. takes out the full calculated possible swing range there will be an estimated 21.10% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0550, some $0.0050 (10.00%) from the current price of $0.0500, our system finds the risk reward not very attractive.
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: -4.221 Sell Candidate Unchanged
Predicted Opening Price for Titan Medical Inc. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $0.0517 ( 3.33%) | $0.0500 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TMD.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0567 | 13.33 % | |
| R2 | 0.0548 | 9.51 % | ||
| R1 | 0.0536 | 7.15 % | ||
| Current price: | 0.0500 | |||
| Support | S1 | 0.0498 | -0.487 % | |
| S2 | 0.0486 | -2.85 % | ||
| S3 | 0.0467 | -6.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.0600 | 20.00 % | ||
| R1 | 0.0550 | 10.00 % | ||
| Current price | 0.0500 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy Titan Medical Inc. Stock.
