AngioDynamics Stock Forecast
AngioDynamics stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)
The AngioDynamics stock price fell by -2.65% on the last day (Wednesday, 24th Apr 2024) from $6.03 to $5.87. During the last trading day the stock fluctuated 3.26% from a day low at $5.83 to a day high of $6.02. The price has fallen in 7 of the last 10 days and is down by -14.31% for this period. Volume has increased on the last day by 84 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 462 thousand shares were bought and sold for approximately $2.71 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.65% during the next 3 months and, with a 90% probability hold a price between $5.63 and $7.43 at the end of this 3-month period.
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ANGO Signals & Forecast
There are few to no technical positive signals at the moment. The AngioDynamics stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $6.20 and $5.96. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -16.50%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for AngioDynamics stock
On the downside, the stock finds support just below today's level from accumulated volume at $5.50 and $5.49. 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, AngioDynamics finds support just below today's level at $5.50. If this is broken, then the next support from accumulated volume will be at $5.49 and $5.37.
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 $0.190 between high and low, or 3.26%. For the last week, the stock has had daily average volatility of 3.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ANGO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect AngioDynamics to open at $5.91, and during the day (based on 14 day Average True Range), to move between $5.55 and $6.19, which gives a possible trading interval of +/-$0.322 (+/-5.48%) up or down from last closing price. If AngioDynamics takes out the full calculated possible swing range there will be an estimated 10.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.08 (3.58%) than the support at $5.50 (6.30%), 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 AngioDynamics stock A Buy?
The AngioDynamics stock holds several negative signals and despite the positive trend, we believe AngioDynamics will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.064 Sell Candidate Downgraded
Predicted Opening Price for AngioDynamics of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $5.91 ( 0.625%) | $5.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ANGO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.10 | 3.86 % | |
| R2 | 6.02 | 2.62 % | ||
| R1 | 5.98 | 1.86 % | ||
| Current price: | 5.87 | |||
| Support | S1 | 5.83 | -0.612 % | |
| S2 | 5.79 | -1.38 % | ||
| S3 | 5.72 | -2.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.03 | 19.76 % | |
| R2 | 6.40 | 9.03 % | ||
| R1 | 6.08 | 3.58 % | ||
| Current price | 5.87 | |||
| Support | S1 | 5.50 | -6.30% | |
| S2 | 5.49 | -6.47% | ||
| S3 | 5.37 | -8.52% |
FAQ
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