TransMedics Group Inc. Stock Forecast
TransMedics Group Inc. stock price up 2.85% on Friday
(Updated on May 03, 2024)
The TransMedics Group Inc. stock price gained 2.85% on the last trading day (Friday, 3rd May 2024), rising from $124.44 to $127.99. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.86% from a day low at $123.65 to a day high of $129.66. The price has risen in 8 of the last 10 days and is up by 52.08% 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, 140 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $195.24 million.
The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $99.19, a level that may pose a second chance to hit a runner.
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TMDX Signals & Forecast
The TransMedics Group 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 $106.11 and $86.81. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 52.08%. 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.
Support, Risk & Stop-loss for TransMedics Group Inc. stock
TransMedics Group Inc. finds support from accumulated volume at $124.44 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 $6.01 between high and low, or 4.86%. For the last week, the stock has had daily average volatility of 8.46%.
The TransMedics Group Inc. stock is extremely overbought on RSI14 (78). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $123.59 (-3.44%) (This stock has high daily movements and this gives high risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (TMDX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect TransMedics Group Inc. to open at $127.10, and during the day (based on 14 day Average True Range), to move between $121.23 and $134.75, which gives a possible trading interval of +/-$6.76 (+/-5.28%) up or down from last closing price. If TransMedics Group Inc. takes out the full calculated possible swing range there will be an estimated 10.56% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $124.44, some $3.55 (2.77%) from the current price of $127.99, our system finds the risk reward attractive.
Earnings coming up
TransMedics Group Inc. will release earnings BMO on Monday, May 06, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0600. We will update the financials statements for TransMedics Group Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.89% in the first trading day after earnings release.
Is TransMedics Group Inc. stock A Buy?
TransMedics Group 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for TransMedics Group Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $127.10 ( 0.695%) | $127.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TMDX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 133.11 | 4.00 % | |
| R2 | 130.81 | 2.21 % | ||
| R1 | 129.40 | 1.10 % | ||
| Current price: | 127.99 | |||
| Support | S1 | 124.80 | -2.49 % | |
| S2 | 123.39 | -3.60 % | ||
| S3 | 121.09 | -5.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 127.99 | |||
| Support | S1 | 124.44 | -2.77% | |
| S2 | 117.60 | -8.12% | ||
| S3 | 97.25 | -24.02% |
FAQ
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