Durect Corporation Stock Forecast
High volatility in Durect Corporation stock price on Wednesday which ended trading at $0.88
(Updated on Apr 24, 2024)
The Durect Corporation stock price gained 4.75% on the last trading day (Wednesday, 24th Apr 2024), rising from $0.84 to $0.88. During the last trading day the stock fluctuated 11.40% from a day low at $0.82 to a day high of $0.91. The price has been going up and down for this period, and there has been a 5.63% gain 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, 103 thousand more shares were traded than the day before. In total, 132 thousand shares were bought and sold for approximately $116.80 thousand.
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 $0.785 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 11.47% during the next 3 months and, with a 90% probability hold a price between $0.87 and $1.60 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
DRRX Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Durect Corporation has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Durect Corporation 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 $1.04. On a fall, the stock will find some support from the short-term average at $0.85. 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. A sell signal was issued from a pivot top point on Thursday, March 14, 2024, and so far it has fallen -35.51%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Durect Corporation stock
Durect Corporation finds support from accumulated volume at $0.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0935 between high and low, or 11.40%. For the last week, the stock has had daily average volatility of 9.04%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DRRX) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Durect Corporation to open at $0.87, and during the day (based on 14 day Average True Range), to move between $0.789 and $0.98, which gives a possible trading interval of +/-$0.0941 (+/-10.65%) up or down from last closing price. If Durect Corporation takes out the full calculated possible swing range there will be an estimated 21.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.85 (3.79%) than the resistance at $0.95 (6.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Durect Corporation stock A Buy?
Durect Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.801 Sell Candidate Unchanged
Predicted Opening Price for Durect Corporation of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.87 ( 1.26%) | $0.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DRRX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.97 | 9.32 % | |
| R2 | 0.93 | 5.28 % | ||
| R1 | 0.91 | 2.78 % | ||
| Current price: | 0.88 | |||
| Support | S1 | 0.84 | -5.31 % | |
| S2 | 0.81 | -7.80 % | ||
| S3 | 0.779 | -11.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.06 | 19.98 % | |
| R2 | 1.02 | 15.45 % | ||
| R1 | 0.95 | 6.96 % | ||
| Current price | 0.88 | |||
| Support | S1 | 0.85 | -3.79% | |
| S2 | 0.81 | -8.08% | ||
| S3 | 0.766 | -13.32% |
FAQ
Click here for our free guide on how to buy Durect Corporation Stock.
