IMAC Holdings Inc. (IMAC)

IMAC stock forecast: buy or sell

IMAC stock outlook

  • IMAC stock collapsed -2.96% to close at $1.31 on the stock market yesterday, and broke a streak of 5 sessions in red.
  • IMAC Holdings, Inc. provides orthopedic therapies through a chain of innovative medical advancements and care regeneration centers in the United States.
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Important:
The opinions contained in this post are personal and not recommendations for you to buy or sell stocks. The author of this report does not have any knowledge of the individual situations of the reader, his or her finances or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Thoughts are published for education purposes only

IMAC stock chart overview

Should I buy IMAC stock?

All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best

Is IMAC stock a buy?

Currently, IMAC stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean we expect a selloff for IMAC in coming sessions, or that it may not rise higher. Simply, it doesn't match our recommended trading systems

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Should I sell IMAC stock?

How to know when is it time to sell IMAC stock?. In the same way as when we have to buy shares, determining when is appropiate time to sell is not a whimsy decision, and we must adhere our own trading style. Our trading system selects very simple strategies to guide us on when is a good moment to sell our shares. Be aware that these strategies should not be used for shorting IMAC stock

A guiding principle is that you should never keep an open trade that produces losses greater than those expected upon the buy. When to sell your stock must always be determined by the stop-loss (automatic or manual)

Is it time to sell IMAC stock?

In the current situation of IMAC there is not any eligible sell setup, so IMAC stock holders with operations in green can keep their positions

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Analysts' recommendations to buy or sell IMAC stock

Brokerage firms and financial institutions post stock ratings based on their views of the market and the fundamental and technical situation of the analyzed stock. Unfortunately, the accuracy of these predictions is not very high, and certainly not a direct buy or sell signal

In the last 30 days we couldn't find any rating for IMAC

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Technical analysis

SMAs overview

Moving averages are indicators for traders to gauge market direction. A moving average is the average price of a stock over a set period of time. Moving averages are usually calculated on different periods depending on the trading timeframe 21, 50, 100 and 200 days are the most usual moving averages

Supports and resistances

Technical analysts use supports and resistances to identify price points in the stock price action that tend to act as barriers, containing the price of a stock to move up or down. Supports are levels where the price may stop as it falls. Price is more likely to "bounce off" this level rather than break through it. However, if the price breaks down this level, it is likely to continue descending until approaching another support level. On the other side, resistances are where the price may find resistance as it rises. In the same way, the price is more likely to "rebound" at this level, and if it finally breaks this level, the price will climb more easily until it hits the next resistance

The current resistance levels are:

  • R1: $1.35 (3.05% above)
  • R2: $1.38 (5.34% above)
  • R3: $1.49 (13.74% above)
  • The current supports are:

  • S1: $1.30 (-0.76% below)
  • S2: $1.15 (-12.21% below)
  • S3: $0.94 (-28.24% below)
  • Bollinger bands

    This is an indicator that was created in the 1980s by John Bollinger. The Bollinger Bands are lines that move around a moving averagediffering in distance from the bottom to the top depending on market volatility. They are usually plotted by an interval of two standard deviations, above and below, from a moving average line. Bollinger himself recommends the moving average period to be 20

    Since the price surpassed the upper band on Wednesday, the price corrected downwards by 49.42%

    Relative strength index

    The Relative Strength Index is an oscillator-type indicator that measures price changes to identify when the share or financial asset is overbought or oversold. Oscillator indicators, such as relative strength, are designed to indicate values in the range of 0-100. The relative strength indicator is one of the best known and most widely used indicators, invented by J. Welles Wilder in the late 1970s

    The RSI dropped below the overbought level of 70 in mid-June after just crossing to the overbough zone for 1 day (weak signal). The RSI reading yesterday was 47.71. Since that level was lost, IMAC shares collapsed a 39.63%

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    Earnings and financials

    IMAC Holdings Inc. (IMAC) posted first-quarter earnings of $-0.16 per share, substantially lowering the Wall St consensus estimate of $0.14 per share. This Q1 report represents an earnings surprise of -214.29%. Company's turnover was $3.3 million compared to $2.8 million forecasted by market consensus.

    This compares to earnings of $0.00 per share a year ago, so current EPS is a drop of -. Looking at revenue, figures exploded a 19.92% compared to $2.8M same quarter last year.

    IMAC will host the earnings call on Friday next week. Market analysts analysts forecast an EPS of $-0.14, that is a 12.5% more than Q1. Earnings reporting day has a more than usual risk for stock investors as the results disclosed can soar and sink the shares price with very low volume and not respecting your buy or stop-loss orders. You can probably find more information about the earnings conference call and the financial reports on the Investor Relations section of its website: http://www.imacregeneration.com.

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