Edwards Lifesciences Corporation Stock Forecast
Edwards Lifesciences Corporation stock price ended at $87.24 on Wednesday, after losing 3.12%.
(Updated on Apr 17, 2024)
The Edwards Lifesciences Corporation stock price fell by -3.12% on the last day (Wednesday, 17th Apr 2024) from $90.05 to $87.24. During the last trading day the stock fluctuated 3.98% from a day low at $86.45 to a day high of $89.89. The price has fallen in 7 of the last 10 days and is down by -6.21% for this period. Volume has increased on the last day by 224 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, 3 million shares were bought and sold for approximately $241.48 million.
Given the current short-term trend, the stock is expected to rise 22.54% during the next 3 months and, with a 90% probability hold a price between $106.90 and $121.79 at the end of this 3-month period.
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EW Signals & Forecast
There are few to no technical positive signals at the moment. The Edwards Lifesciences Corporation 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 $90.39 and $91.44. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -8.71%. 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 Edwards Lifesciences Corporation stock
Edwards Lifesciences Corporation finds support from accumulated volume at $86.09 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $3.44 between high and low, or 3.98%. For the last week the stock has had daily average volatility of 2.73%.
Edwards Lifesciences Corporation is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EW) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Edwards Lifesciences Corporation to open at $87.86, and during the day (based on 14 day Average True Range), to move between $84.99 and $89.49, which gives a possible trading interval of +/-$2.25 (+/-2.57%) up or down from last closing price. If Edwards Lifesciences Corporation takes out the full calculated possible swing range there will be an estimated 5.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $88.25 (1.16%) than the support at $86.09 (1.32%), 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.
Earnings coming up
Edwards Lifesciences Corporation will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.640. We will update the financials statements for Edwards Lifesciences Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.73% in the first trading day after earnings release.
Is Edwards Lifesciences Corporation stock A Buy?
The Edwards Lifesciences Corporation stock holds several negative signals and despite the positive trend, we believe Edwards Lifesciences Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.038 Sell Candidate Unchanged
Predicted Opening Price for Edwards Lifesciences Corporation of Thursday, April 18, 2024
Fair opening price April 18, 2024 | Current price |
---|---|
$87.86 ( 0.711%) | $87.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EW
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 91.30 | 4.65 % | |
R2 | 89.99 | 3.15 % | ||
R1 | 89.17 | 2.22 % | ||
Current price: | 87.24 | |||
Support | S1 | 86.55 | -0.796 % | |
S2 | 85.73 | -1.73 % | ||
S3 | 84.42 | -3.23 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 94.31 | 8.10 % | |
R2 | 92.93 | 6.52 % | ||
R1 | 88.25 | 1.16 % | ||
Current price | 87.24 | |||
Support | S1 | 86.09 | -1.32% | |
S2 | 86.06 | -1.35% | ||
S3 | 78.47 | -10.05% |
FAQ
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