CorMedix Inc Forecast and Stock Analysis
Technical CRMD stock analysis for March 18, 2019.
|Shorts||4.05% ( 2019-02-28 )|
CorMedix Inc fell by -7.69% in the last day from $1.82 to $1.68 The price has risen in 6 of the last 10 days and is up by 3.7% over the past 2 weeks. Volume has increased in the last day by 0.96 million shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 3.53 million shares bought and sold for approximately $5.94 million.
Close price at the end of the last trading day (Monday, 18th Mar 2019) of the CRMD stock was $1.68. This is 7.69% less than the trading day before Friday, 15th Mar 2019.
During day the stock fluctuated 13.75% from a day low at $1.60 to a day high of $1.82.
30 day high of the CRMD stock price was $1.98 and low was $1.55.
90 day high was $2.74 and low was $1.11.
52 week high for the CorMedix Inc - $2.74 and low - $0.17.
CorMedix Inc lies in the lower part of a very wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $1.60 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 20.06% during the next 3 months and, with 90% probability hold a price between $1.92 and $3.40 at the end of this period.
There are few to none technical positive signals at the moment. CorMedix Inc holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 $1.80 and $1.88. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Tuesday March 12, 2019, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
RSI14 is 43 and the stock is currently not being overbought or oversold
Support & Resistance
CorMedix Inc finds support from accumulated volume at $1.64.
This stock may move much during a 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 $0.22 between high and low, or 13.75%. For the last week, the stock has had a daily average volatility of 9.40%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
The CorMedix Inc stock holds several negative signals and despite the positive trend we believe CorMedix Inc will perform weak 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 recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.