MiMedx Group Stock Forecast
Stronger technical forecast for MiMedx Group stock price after Friday trading.
(Updated on Apr 19, 2024)
The MiMedx Group stock price gained 2.11% on the last trading day (Friday, 19th Apr 2024), rising from $6.16 to $6.29. During the last trading day the stock fluctuated 3.26% from a day low at $6.10 to a day high of $6.30. The price has fallen in 6 of the last 10 days and is down by -10.14% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 149 thousand more shares were traded than the day before. In total, 691 thousand shares were bought and sold for approximately $4.35 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $6.13 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -17.19% during the next 3 months and, with a 90% probability hold a price between $5.08 and $6.42 at the end of this 3-month period.
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MDXG Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 2.11%. Further rise is indicated until a new top pivot has been found. 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. The MiMedx Group 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 $6.34 and $7.43. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for MiMedx Group stock
MiMedx Group finds support from accumulated volume at $6.23 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.199 between high and low, or 3.26%. For the last week, the stock has had daily average volatility of 3.00%.
MiMedx Group 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 (MDXG) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect MiMedx Group to open at $6.23, and during the day (based on 14 day Average True Range), to move between $6.04 and $6.54, which gives a possible trading interval of +/-$0.255 (+/-4.05%) up or down from last closing price. If MiMedx Group takes out the full calculated possible swing range there will be an estimated 8.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.23 (0.95%) than the resistance at $6.88 (9.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MiMedx Group stock A Buy?
MiMedx Group holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.589 Sell Candidate Upgraded
Predicted Opening Price for MiMedx Group of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $6.23 ( 0.95%) | $6.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MDXG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.43 | 2.22 % | |
| R2 | 6.35 | 1.01 % | ||
| R1 | 6.31 | 0.260 % | ||
| Current price: | 6.29 | |||
| Support | S1 | 6.15 | -2.16 % | |
| S2 | 6.11 | -2.90 % | ||
| S3 | 6.03 | -4.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.78 | 23.69 % | |
| R2 | 7.61 | 20.99 % | ||
| R1 | 6.88 | 9.38 % | ||
| Current price | 6.29 | |||
| Support | S1 | 6.23 | -0.95% | |
| S2 | 6.16 | -2.07% | ||
| S3 | 0 | . |
FAQ
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