Cara Therapeutics Stock Forecast

Cara Therapeutics stock price ended at $0.661 on Friday, after losing 4.20%.
(Updated on Apr 19, 2024)

CARA Signals & Forecast

There are few to no technical positive signals at the moment. 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 $0.725 and $0.86. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -37.05%. 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). Cara Therapeutics gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Cara Therapeutics stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.610 and $0.570. 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 $0.610. If this is broken, then the next support from accumulated volume will be at $0.570 and $0.520.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0457 between high and low, or 7.03%. For the last week, the stock has had daily average volatility of 9.56%.

Cara Therapeutics is oversold on RSI14 (21). 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 Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Cara Therapeutics to open at $0.669, and during the day (based on 14 day Average True Range), to move between $0.580 and $0.742, which gives a possible trading interval of +/-$0.0807 (+/-12.20%) up or down from last closing price. If Cara Therapeutics takes out the full calculated possible swing range there will be an estimated 24.41% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.610 (7.72%) than the resistance at $0.787 (18.99%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Cara Therapeutics stock A Buy?

The Cara Therapeutics stock holds several negative signals and despite the positive trend, we believe Cara Therapeutics will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.221 Sell Candidate Unchanged

Predicted Opening Price for Cara Therapeutics of Monday, April 22, 2024

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