RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of IRIX
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IRIDEX Corporation stock upgraded to Buy Candidate.
(Updated on Mar 28, 2024)

Buy candidate since Mar 28, 2024 PDF

The IRIDEX Corporation stock price gained 1.02% on the last trading day (Thursday, 28th Mar 2024), rising from $2.95 to $2.98. During the last trading day the stock fluctuated 7.32% from a day low at $2.87 to a day high of $3.08. The price has risen in 7 of the last 10 days and is up by 15.06% over the past 2 weeks. Volume fell on the last day by -209 thousand shares and in total, 48 thousand shares were bought and sold for approximately $143.08 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

Given the current short-term trend, the stock is expected to fall -13.01% during the next 3 months and, with a 90% probability hold a price between $1.99 and $2.59 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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IRIX Signals & Forecast

The IRIDEX Corporation 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 $2.64 and $2.58. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 26.81%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss for IRIDEX Corporation stock

IRIDEX Corporation finds support from accumulated volume at $2.95 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.210 between high and low, or 7.32%. For the last week the stock has had daily average volatility of 8.80%.

Our recommended stop-loss: $2.89 (-3.16%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (IRIX) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect IRIDEX Corporation to open at $2.98, and during the day (based on 14 day Average True Range), to move between $2.81 and $3.15, which gives a possible trading interval of +/-$0.165 (+/-5.55%) up or down from last closing price. If IRIDEX Corporation takes out the full calculated possible swing range there will be an estimated 11.09% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $2.95 (1.01%) than the resistance at $3.08 (3.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is IRIDEX Corporation stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 4.149 Buy Candidate Upgraded

Predicted Opening Price for IRIDEX Corporation of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$2.98 ( 0.112%) $2.98

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

Trading levels for IRIX

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 3.19 6.94 %
R2 3.11 4.24 %
R1 3.06 2.58 %
Current price: 2.98
Support S1 2.90 -2.80 %
S2 2.85 -4.47 %
S3 2.77 -7.16 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 3.10 4.03 %
R2 3.09 3.69 %
R1 3.08 3.36 %
Current price 2.98
Support S1 2.95 -1.01%
S2 2.59 -13.09%
S3 2.41 -19.13%

FAQ

What is the symbol for IRIDEX Corporation Stock and on which exchange is it traded?
The symbol for IRIDEX Corporation is IRIX and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell IRIDEX Corporation Stock?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

How to buy IRIDEX Corporation Stock?
IRIDEX Corporation Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy IRIDEX Corporation Stock.

What's the current price of IRIDEX Corporation Stock?
As of the end of day on the 2024-03-28, the price of an IRIDEX Corporation (IRIX) share was $2.98.

What is the 52-week high and low for IRIDEX Corporation Stock?
The 52-week high for IRIDEX Corporation Stock is $3.48 and the 52-week low is $1.31.

What is the market capitalization of IRIDEX Corporation Stock?
As of the 2024-03-28, the market capitalization of IRIDEX Corporation is 48.418M.

When is the next earnings date for IRIDEX Corporation?
The upcoming earnings date for IRIDEX Corporation is May 09, 2024.
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About IRIDEX Corporation

IRIDEX IRIDEX Corporation, an ophthalmic medical technology company, provides therapeutic based laser systems, delivery devices, and consumable instrumentation to treat sight-threatening eye diseases in ophthalmology. It offers laser consoles, such as Cyclo G6 laser system for use in the treatment of glaucoma; IQ 532 and IQ 577 laser photocoagulation systems, which are used for the treatment of diabetic macular edema and other retinal diseases; and OcuL... IRIX Profile

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