Alimera Sciences Stock Forecast
Volatile ride for Alimera Sciences stock price on Thursday moving between $3.28 and $3.65
(Updated on Apr 25, 2024)
The Alimera Sciences stock price fell by -8.82% on the last day (Thursday, 25th Apr 2024) from $3.63 to $3.31. During the last trading day the stock fluctuated 11.42% from a day low at $3.28 to a day high of $3.65. The price has been going up and down for this period, and there has been a -14.03% loss for the last 2 weeks. Volume has increased on the last day by 18 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, 25 thousand shares were bought and sold for approximately $83.30 thousand.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $3.21 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Alimera Sciences stock with a 90% probability to be traded between $3.17 and $4.13 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ALIM Signals & Forecast
There are few to no technical positive signals at the moment. The Alimera Sciences 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 $3.49 and $3.79. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -21.38%. 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). Alimera Sciences gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Alimera Sciences stock
Alimera Sciences finds support from accumulated volume at $3.25 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 $0.375 between high and low, or 11.42%. For the last week, the stock has had daily average volatility of 8.58%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ALIM) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Alimera Sciences to open at $3.41, and during the day (based on 14 day Average True Range), to move between $3.07 and $3.55, which gives a possible trading interval of +/-$0.238 (+/-7.20%) up or down from last closing price. If Alimera Sciences takes out the full calculated possible swing range there will be an estimated 14.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.34 (0.91%) than the support at $3.25 (1.81%), 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 Alimera Sciences stock A Buy?
Alimera Sciences 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.
Current score: -2.460 Sell Candidate Unchanged
Predicted Opening Price for Alimera Sciences of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $3.41 ( 3.17%) | $3.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALIM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.79 | 14.49 % | |
| R2 | 3.65 | 10.16 % | ||
| R1 | 3.56 | 7.49 % | ||
| Current price: | 3.31 | |||
| Support | S1 | 3.27 | -1.16 % | |
| S2 | 3.18 | -3.83 % | ||
| S3 | 3.04 | -8.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.99 | 20.54 % | |
| R2 | 3.90 | 17.82 % | ||
| R1 | 3.34 | 0.91 % | ||
| Current price | 3.31 | |||
| Support | S1 | 3.25 | -1.81% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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