CorMedix Inc Stock Forecast
CorMedix Inc stock price ended at $5.45 on Tuesday, after gaining 3.22%.
(Updated on Apr 23, 2024)
The CorMedix Inc stock price gained 3.22% on the last trading day (Tuesday, 23rd Apr 2024), rising from $5.28 to $5.45. During the last trading day the stock fluctuated 6.06% from a day low at $5.26 to a day high of $5.58. The price has risen in 5 of the last 10 days and is up by 14.74% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 110 thousand more shares were traded than the day before. In total, 573 thousand shares were bought and sold for approximately $3.12 million.
The stock lies in the middle of a very wide and strong 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 61.58% during the next 3 months and, with a 90% probability hold a price between $7.46 and $10.86 at the end of this 3-month period.
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CRMD Signals & Forecast
The CorMedix Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $5.38 and $4.44. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -14.71%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for CorMedix Inc stock
CorMedix Inc finds support from accumulated volume at $5.38 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.319 between high and low, or 6.06%. For the last week, the stock has had daily average volatility of 9.25%.
Our recommended stop-loss: $5.14 (-5.64%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (CRMD) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect CorMedix Inc to open at $5.43, and during the day (based on 14 day Average True Range), to move between $5.01 and $5.89, which gives a possible trading interval of +/-$0.435 (+/-7.99%) up or down from last closing price. If CorMedix Inc takes out the full calculated possible swing range there will be an estimated 15.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.38 (1.28%) than the resistance at $5.84 (7.16%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CorMedix Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for CorMedix Inc stock to perform well in the short-term.
Current score: 3.271 Buy Candidate Unchanged
Predicted Opening Price for CorMedix Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $5.43 ( 0.374%) | $5.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CRMD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.75 | 5.48 % | |
| R2 | 5.63 | 3.24 % | ||
| R1 | 5.55 | 1.86 % | ||
| Current price: | 5.45 | |||
| Support | S1 | 5.31 | -2.61 % | |
| S2 | 5.23 | -3.99 % | ||
| S3 | 5.11 | -6.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 6.39 | 17.25 % | ||
| R1 | 5.84 | 7.16 % | ||
| Current price | 5.45 | |||
| Support | S1 | 5.38 | -1.28% | |
| S2 | 5.28 | -3.12% | ||
| S3 | 4.18 | -23.30% |
FAQ
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