Tandem Diabetes Care Stock Forecast
Stronger technical forecast for Tandem Diabetes Care stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Tandem Diabetes Care stock price fell by -0.760% on the last day (Tuesday, 2nd Jul 2024) from $39.45 to $39.15. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 3.22% from a day low at $38.58 to a day high of $39.82. The price has fallen in 7 of the last 10 days and is down by -8.95% for this period. 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 -189 thousand shares and in total, 1 million shares were bought and sold for approximately $49.23 million.
Given the current short-term trend, the stock is expected to rise 32.56% during the next 3 months and, with a 90% probability hold a price between $51.90 and $77.59 at the end of this 3-month period.
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TNDM Signals & Forecast
There are few to no technical positive signals at the moment. The Tandem Diabetes Care 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 $40.01 and $46.52. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 30, 2024, and so far it has fallen -26.73%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Tandem Diabetes Care stock
On the downside, the stock finds support just below today's level from accumulated volume at $36.56 and $36.20. 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, Tandem Diabetes Care finds support just below today's level at $36.56. If this is broken, then the next support from accumulated volume will be at $36.20 and $34.97.
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 $1.24 between high and low, or 3.22%. For the last week, the stock has had daily average volatility of 4.58%.
Tandem Diabetes Care is oversold on RSI14 (8). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: $36.47 (-6.84%) (This stock has high daily movements and this gives high risk. Low RSI14 is 8 which reduces the risk some. There is a sell signal from a pivot top found 50 days ago.)
Trading Expectations (TNDM) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Tandem Diabetes Care to open at $39.18, and during the day (based on 14 day Average True Range), to move between $37.02 and $41.28, which gives a possible trading interval of +/-$2.13 (+/-5.43%) up or down from last closing price. If Tandem Diabetes Care takes out the full calculated possible swing range there will be an estimated 10.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $39.98 (2.12%) than the support at $36.56 (6.62%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Tandem Diabetes Care stock A Buy?
Tandem Diabetes Care holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.353 Hold/Accumulate Upgraded
Predicted Opening Price for Tandem Diabetes Care of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $39.18 ( 0.0830%) | $39.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TNDM
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 40.43 | 3.26% |
| R2 | 39.95 | 2.04% |
| R1 | 39.66 | 1.30% |
| Price | 39.15 | |
| S1 | 38.71 | -1.13% |
| S2 | 38.41 | -1.88% |
| S3 | 37.94 | -3.09% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 44.72 | 14.23% |
| R2 | 40.29 | 2.91% |
| R1 | 39.98 | 2.12% |
| Price | 39.15 | |
| S1 | 36.56 | -6.62% |
| S2 | 36.20 | -7.54% |
| S3 | 34.97 | -10.68% |
FAQ
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