Tactile Systems Technology Inc Stock Forecast
Green day on Wednesday for Tactile Systems Technology Inc stock after gaining 3.23%
(Updated on Apr 24, 2024)
The Tactile Systems Technology Inc stock price gained 3.23% on the last trading day (Wednesday, 24th Apr 2024), rising from $14.57 to $15.04. During the last trading day the stock fluctuated 7.15% from a day low at $14.55 to a day high of $15.59. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 309 thousand more shares were traded than the day before. In total, 410 thousand shares were bought and sold for approximately $6.17 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Tactile Systems Technology Inc stock with a 90% probability to be traded between $14.02 and $16.62 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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TCMD Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 6.67%. 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 Tactile Systems Technology Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $15.47. On a fall, the stock will find some support from the short-term average at $14.48. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Tactile Systems Technology Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $14.20 and $14.13. 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, Tactile Systems Technology Inc finds support just below today's level at $14.20. If this is broken, then the next support from accumulated volume will be at $14.13 and $13.88.
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 $1.04 between high and low, or 7.15%. For the last week, the stock has had daily average volatility of 3.56%.
Our recommended stop-loss: $14.39 (-4.33%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (TCMD) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Tactile Systems Technology Inc to open at $15.06, and during the day (based on 14 day Average True Range), to move between $14.43 and $15.65, which gives a possible trading interval of +/-$0.614 (+/-4.08%) up or down from last closing price. If Tactile Systems Technology Inc takes out the full calculated possible swing range there will be an estimated 8.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $15.25 (1.40%) than the support at $14.20 (5.59%), 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 Tactile Systems Technology Inc stock A Buy?
Tactile Systems Technology Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.579 Hold/Accumulate Unchanged
Predicted Opening Price for Tactile Systems Technology Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $15.06 ( 0.133%) | $15.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TCMD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.10 | 7.05 % | |
| R2 | 15.70 | 4.41 % | ||
| R1 | 15.46 | 2.77 % | ||
| Current price: | 15.04 | |||
| Support | S1 | 14.66 | -2.51 % | |
| S2 | 14.42 | -4.14 % | ||
| S3 | 14.02 | -6.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.75 | 11.37 % | |
| R2 | 15.84 | 5.32 % | ||
| R1 | 15.25 | 1.40 % | ||
| Current price | 15.04 | |||
| Support | S1 | 14.20 | -5.59% | |
| S2 | 14.13 | -6.05% | ||
| S3 | 13.88 | -7.71% |
FAQ
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