Biomerica, Inc Stock Forecast
Biomerica, Inc stock price ended at $0.760 on Thursday, after gaining 1.20%.
(Updated on Apr 18, 2024)
The Biomerica, Inc stock price gained 1.20% on the last trading day (Thursday, 18th Apr 2024), rising from $0.751 to $0.760. During the last trading day the stock fluctuated 6.78% from a day low at $0.749 to a day high of $0.80. The price has risen in 6 of the last 10 days but is still down by -9.2% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 20 thousand more shares were traded than the day before. In total, 55 thousand shares were bought and sold for approximately $42.11 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.734 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -10.53% during the next 3 months and, with a 90% probability hold a price between $0.656 and $1.08 at the end of this 3-month period.
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BMRA Signals & Forecast
There are mixed signals in the stock today. The Biomerica, 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 $0.781 and $0.95. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.94%. 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). Biomerica, Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Biomerica, Inc stock
Biomerica, Inc finds support from accumulated volume at $0.751 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 $0.0508 between high and low, or 6.78%. For the last week, the stock has had daily average volatility of 7.39%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BMRA) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Biomerica, Inc to open at $0.770, and during the day (based on 14 day Average True Range), to move between $0.691 and $0.83, which gives a possible trading interval of +/-$0.0687 (+/-9.05%) up or down from last closing price. If Biomerica, Inc takes out the full calculated possible swing range there will be an estimated 18.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.751 (1.18%) than the resistance at $0.81 (6.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Biomerica, Inc stock A Buy?
Biomerica, 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: -4.780 Sell Candidate Unchanged
Predicted Opening Price for Biomerica, Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $0.770 ( 1.28%) | $0.760 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BMRA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.82 | 7.96 % | |
| R2 | 0.80 | 5.41 % | ||
| R1 | 0.789 | 3.83 % | ||
| Current price: | 0.760 | |||
| Support | S1 | 0.750 | -1.27 % | |
| S2 | 0.738 | -2.85 % | ||
| S3 | 0.719 | -5.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.89 | 16.79 % | |
| R2 | 0.87 | 14.51 % | ||
| R1 | 0.81 | 6.79 % | ||
| Current price | 0.760 | |||
| Support | S1 | 0.751 | -1.18% | |
| S2 | 0.738 | -2.86% | ||
| S3 | 0 | . |
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