Masimo Corporation Stock Forecast

Masimo Corporation stock upgraded from Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on Apr 22, 2024)

MASI Signals & Forecast

There are few to no technical positive signals at the moment. The Masimo 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 $136.55 and $136.90. 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 -8.53%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Thursday, March 14, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Masimo Corporation stock

Masimo Corporation finds support from accumulated volume at $132.68 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.29 (1.72%) between high and low. For the last week, the stock has had daily average volatility of 2.14%.

Our recommended stop-loss: $127.52 (-5.06%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 16 days ago.)

Trading Expectations (MASI) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Masimo Corporation to open at $134.55, and during the day (based on 14 day Average True Range), to move between $130.33 and $138.31, which gives a possible trading interval of +/-$3.99 (+/-2.97%) up or down from last closing price. If Masimo Corporation takes out the full calculated possible swing range there will be an estimated 5.95% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $134.77 (0.34%) than the support at $132.68 (1.22%), 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 Masimo Corporation stock A Buy?

Masimo Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.377 Hold/Accumulate Upgraded

Predicted Opening Price for Masimo Corporation of Tuesday, April 23, 2024

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