Cara Therapeutics Stock Forecast
Cara Therapeutics stock upgraded to Sell Candidate.
(Updated on Jul 03, 2024)
The Cara Therapeutics stock price fell by -2.12% on the last day (Wednesday, 3rd Jul 2024) from $0.278 to $0.272. During the last trading day the stock fluctuated 8.21% from a day low at $0.268 to a day high of $0.290. The price has risen in 6 of the last 10 days and is up by 12.12% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -397 thousand shares and in total, 257 thousand shares were bought and sold for approximately $69.78 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -48.23% during the next 3 months and, with a 90% probability hold a price between $0.0819 and $0.291 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.
CARA Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 12.12%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cara Therapeutics 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 $0.285 and $0.535. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Cara Therapeutics stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.258 and $0.255. 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, Cara Therapeutics finds support just below today's level at $0.258. If this is broken, then the next support from accumulated volume will be at $0.255 and $0.243.
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 $0.0220 between high and low, or 8.21%. For the last week the stock has had daily average volatility of 12.85%.
Cara Therapeutics is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CARA) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Cara Therapeutics to open at $0.277, and during the day (based on 14 day Average True Range), to move between $0.210 and $0.334, which gives a possible trading interval of +/-$0.0619 (+/-22.75%) up or down from last closing price. If Cara Therapeutics takes out the full calculated possible swing range there will be an estimated 45.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.277 (1.84%) than the support at $0.258 (5.15%), 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 Cara Therapeutics stock A Buy?
Cara Therapeutics 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.919 Sell Candidate Upgraded
Predicted Opening Price for Cara Therapeutics of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $0.277 ( 1.72%) | $0.272 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CARA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.299 | 9.80% |
| R2 | 0.290 | 6.71% |
| R1 | 0.285 | 4.81% |
| Price | 0.272 | |
| S1 | 0.268 | -1.37% |
| S2 | 0.263 | -3.28% |
| S3 | 0.255 | -6.37% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.340 | 24.96% |
| R2 | 0.331 | 21.76% |
| R1 | 0.277 | 1.84% |
| Price | 0.272 | |
| S1 | 0.258 | -5.15% |
| S2 | 0.255 | -6.40% |
| S3 | 0.243 | -10.81% |
FAQ
Click here for our free guide on how to buy Cara Therapeutics Stock.
