Electromed, Inc Stock Forecast

Weaker technical forecast for Electromed, Inc as stock downgraded to Hold/Accumulate.
(Updated on Apr 25, 2024)

ELMD Signals & Forecast

The Electromed, Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $15.37 and $15.99. 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). 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 Wednesday, March 20, 2024, and so far it has fallen -8.12%. Further fall is indicated until a new bottom pivot has been found. Electromed, Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Electromed, Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at $14.99 and $13.74. 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, Electromed, Inc finds support just below today's level at $14.99. If this is broken, then the next support from accumulated volume will be at $13.74 and $12.20.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.91 between high and low, or 5.74%. For the last week, the stock has had daily average volatility of 6.22%.

Our recommended stop-loss: $15.59 (-3.65%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 25 days ago.)

Trading Expectations (ELMD) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Electromed, Inc to open at $16.27, and during the day (based on 14 day Average True Range), to move between $15.37 and $16.99, which gives a possible trading interval of +/-$0.81 (+/-4.99%) up or down from last closing price. If Electromed, Inc takes out the full calculated possible swing range there will be an estimated 9.97% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $16.50 (1.98%) than the support at $14.99 (7.35%), 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 Electromed, Inc stock A Buy?

Electromed, Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.711 Hold/Accumulate Downgraded

Predicted Opening Price for Electromed, Inc of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.