Company Overview: Biomerica, Inc., (Biomerica) is a biomedical technology company. For the early identification and ongoing management of chronic illnesses and other medical problems, the company develops patents and produces and markets diagnostic and therapeutic devices.
As per the previous report published on BMRA dated 11th July 2022, a ‘Speculative buy’ stance was provided on the stock at USD 2.90 based on innovation-driven organization, revenue growth, increased patents, and key risks associated with the business and the stock price has now moved by ~ 10.69% since then and has now moved close to resistance 1.
Noted below are the details of support and resistance levels provided in the previous report:
BMRA’s Daily Chart
Considering the resistance 1, current trading levels, risks associated, and volatile market conditions on the back of rising interest rates, a ‘Sell’ rating is assigned to the “BMRA” at the closing market price of USD 3.21, as of August 19, 2022.
Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 11 July 2022. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Note 4: Target Price refers to a price level which the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.
Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’