Alimera Sciences Stock Forecast
Strong day for Alimera Sciences stock price on Friday rising 5.18% to $3.56
(Updated on May 10, 2024)
The Alimera Sciences stock price gained 5.18% on the last trading day (Friday, 10th May 2024), rising from $3.38 to $3.56. During the last trading day the stock fluctuated 8.82% from a day low at $3.40 to a day high of $3.70. The price has risen in 7 of the last 10 days and is up by 1.86% over the past 2 weeks. Volume fell on the last day by -18 thousand shares and in total, 42 thousand shares were bought and sold for approximately $149.94 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Alimera Sciences stock with a 90% probability to be traded between $3.20 and $4.16 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ALIM Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 7.40%. 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 Alimera Sciences 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 $3.58 and $3.68. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Alimera Sciences stock
Alimera Sciences finds support from accumulated volume at $3.54 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.300 between high and low, or 8.82%. For the last week the stock has had daily average volatility of 8.91%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ALIM) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Alimera Sciences to open at $3.55, and during the day (based on 14 day Average True Range), to move between $3.29 and $3.82, which gives a possible trading interval of +/-$0.267 (+/-7.51%) up or down from last closing price. If Alimera Sciences takes out the full calculated possible swing range there will be an estimated 15.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.54 (0.42%) than the resistance at $3.90 (9.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Alimera Sciences will release earnings BMO on Tuesday, May 14, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0400. We will update the financials statements for Alimera Sciences, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 12.53% in the first trading day after earnings release.
Is Alimera Sciences stock A Buy?
Alimera Sciences holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.739 Sell Candidate Downgraded
Predicted Opening Price for Alimera Sciences of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $3.55 ( 0.0938%) | $3.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALIM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.85 | 8.35 % | |
| R2 | 3.74 | 5.12 % | ||
| R1 | 3.67 | 3.13 % | ||
| Current price: | 3.56 | |||
| Support | S1 | 3.44 | -3.32 % | |
| S2 | 3.37 | -5.31 % | ||
| S3 | 3.25 | -8.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.21 | 18.42 % | |
| R2 | 3.99 | 12.24 % | ||
| R1 | 3.90 | 9.70 % | ||
| Current price | 3.56 | |||
| Support | S1 | 3.54 | -0.422% | |
| S2 | 3.40 | -4.36% | ||
| S3 | 3.34 | -6.05% |
FAQ
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