Tandem Diabetes Care Stock Forecast
Tandem Diabetes Care stock upgraded from Sell Candidate to Buy Candidate after Monday trading session.
(Updated on Apr 22, 2024)
The Tandem Diabetes Care stock price gained 4.27% on the last trading day (Monday, 22nd Apr 2024), rising from $30.43 to $31.73. During the last trading day the stock fluctuated 5.98% from a day low at $30.12 to a day high of $31.92. The price has fallen in 7 of the last 10 days and is down by -5.42% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 19 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $31.85 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $30.64 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 50.91% during the next 3 months and, with a 90% probability hold a price between $46.24 and $58.53 at the end of this 3-month period.
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TNDM Signals & Forecast
The Tandem Diabetes Care stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $31.88. On a fall, the stock will find some support from the long-term average at approximately $31.71. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -10.39%. 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).
Support, Risk & Stop-loss for Tandem Diabetes Care stock
On the downside, the stock finds support just below today's level from accumulated volume at $28.86 and $27.11. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Tandem Diabetes Care finds support just below today's level at $28.86. If this is broken, then the next support from accumulated volume will be at $27.11 and $27.07.
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 $1.80 between high and low, or 5.98%. For the last week, the stock has had daily average volatility of 5.32%.
Our recommended stop-loss: $30.15 (-4.99%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (TNDM) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Tandem Diabetes Care to open at $31.26, and during the day (based on 14 day Average True Range), to move between $29.94 and $33.52, which gives a possible trading interval of +/-$1.79 (+/-5.63%) up or down from last closing price. If Tandem Diabetes Care takes out the full calculated possible swing range there will be an estimated 11.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $31.86 (0.41%) than the support at $28.86 (9.05%), 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 Tandem Diabetes Care 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 Tandem Diabetes Care stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.422 Buy Candidate Upgraded
Predicted Opening Price for Tandem Diabetes Care of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $31.26 ( 1.49%) | $31.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TNDM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.06 | 4.18 % | |
| R2 | 32.37 | 2.01 % | ||
| R1 | 31.94 | 0.675 % | ||
| Current price: | 31.73 | |||
| Support | S1 | 30.57 | -3.66 % | |
| S2 | 30.14 | -5.00 % | ||
| S3 | 29.46 | -7.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.69 | 6.18 % | |
| R2 | 33.50 | 5.58 % | ||
| R1 | 31.86 | 0.410 % | ||
| Current price | 31.73 | |||
| Support | S1 | 28.86 | -9.05% | |
| S2 | 27.11 | -14.58% | ||
| S3 | 27.07 | -14.69% |
FAQ
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