Silk Road Medical Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Wednesday for Silk Road Medical Inc.
(Updated on Apr 24, 2024)
The Silk Road Medical Inc. stock price fell by -0.566% on the last day (Wednesday, 24th Apr 2024) from $17.67 to $17.57. During the last trading day the stock fluctuated 3.26% from a day low at $17.46 to a day high of $18.03. The price has fallen in 7 of the last 10 days and is down by -3.67% for this period. Volume has increased on the last day by 41 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, 512 thousand shares were bought and sold for approximately $8.99 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.84% during the next 3 months and, with a 90% probability hold a price between $18.92 and $22.83 at the end of this 3-month period.
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SILK Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -8.11%. 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. The Silk Road Medical Inc. 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 $17.51 and $17.51. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Silk Road Medical Inc. stock
Silk Road Medical Inc. finds support from accumulated volume at $17.17 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.570 between high and low, or 3.26%. For the last week, the stock has had daily average volatility of 4.23%.
Our recommended stop-loss: $16.75 (-4.66%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (SILK) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Silk Road Medical Inc. to open at $17.69, and during the day (based on 14 day Average True Range), to move between $16.76 and $18.38, which gives a possible trading interval of +/-$0.81 (+/-4.61%) up or down from last closing price. If Silk Road Medical Inc. takes out the full calculated possible swing range there will be an estimated 9.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.69 (0.68%) than the support at $17.17 (2.28%), 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
Silk Road Medical Inc. will release earnings AMC on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.400. We will update the financials statements for Silk Road Medical Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.13% in the first trading day after earnings release.
Is Silk Road Medical Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Silk Road Medical Inc. stock to perform well in the short-term.
Current score: 2.424 Buy Candidate Unchanged
Predicted Opening Price for Silk Road Medical Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $17.69 ( 0.664%) | $17.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SILK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.26 | 3.91 % | |
| R2 | 18.04 | 2.67 % | ||
| R1 | 17.90 | 1.90 % | ||
| Current price: | 17.57 | |||
| Support | S1 | 17.47 | -0.575 % | |
| S2 | 17.33 | -1.34 % | ||
| S3 | 17.12 | -2.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.99 | 2.39 % | |
| R2 | 17.75 | 1.02 % | ||
| R1 | 17.69 | 0.683 % | ||
| Current price | 17.57 | |||
| Support | S1 | 17.17 | -2.28% | |
| S2 | 16.28 | -7.34% | ||
| S3 | 15.98 | -9.05% |
FAQ
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