Biofrontera Inc. Stock Forecast

Weaker technical forecast for Biofrontera Inc. as stock downgraded to Strong Sell Candidate.
(Updated on Jun 26, 2024)

BFRIW Signals & Forecast

There are few to no technical positive signals at the moment. The Biofrontera Inc. 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 $0.0437 and $0.0514. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -37.69%. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Biofrontera Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0366 and $0.0351. 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, Biofrontera Inc. finds support just below today's level at $0.0366. If this is broken, then the next support from accumulated volume will be at $0.0351 and $0.0350.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (BFRIW) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Biofrontera Inc. to open at $0.0405, and during the day (based on 14 day Average True Range), to move between $0.0325 and $0.0485, which gives a possible trading interval of +/-$0.0080 (+/-19.79%) up or down from last closing price. If Biofrontera Inc. takes out the full calculated possible swing range there will be an estimated 39.58% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0366 (9.63%) than the resistance at $0.0454 (12.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Biofrontera Inc. stock A Buy?

Biofrontera Inc. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.

Current score: -5.796 Strong Sell Candidate Downgraded

Predicted Opening Price for Biofrontera Inc. of Thursday, June 27, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.