Cara Therapeutics Stock Forecast
High volatility in Cara Therapeutics stock price on Thursday which ended trading at $0.700
(Updated on Apr 25, 2024)
The Cara Therapeutics stock price gained 4.23% on the last trading day (Thursday, 25th Apr 2024), rising from $0.672 to $0.700. During the last trading day the stock fluctuated 12.00% from a day low at $0.640 to a day high of $0.717. The price has fallen in 7 of the last 10 days and is down by -13.64% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 93 thousand more shares were traded than the day before. In total, 307 thousand shares were bought and sold for approximately $214.79 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 $0.674 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 21.48% during the next 3 months and, with a 90% probability hold a price between $0.82 and $1.41 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
There are mixed signals in the stock today. The Cara Therapeutics 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 $0.83. On a fall, the stock will find some support from the short-term average at $0.699. 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 07, 2024, and so far it has fallen -33.33%. 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 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.
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 $0.595. 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 $0.595 and $0.533.
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 $0.0768 between high and low, or 12.00%. For the last week, the stock has had daily average volatility of 9.14%.
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 26th
For the upcoming trading day on Friday, 26th we expect Cara Therapeutics to open at $0.686, and during the day (based on 14 day Average True Range), to move between $0.624 and $0.776, which gives a possible trading interval of +/-$0.0762 (+/-10.88%) up or down from last closing price. If Cara Therapeutics takes out the full calculated possible swing range there will be an estimated 21.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.787 (12.36%) than the support at $0.610 (12.86%), 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 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: -4.090 Sell Candidate Unchanged
Predicted Opening Price for Cara Therapeutics of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.686 ( 2.06%) | $0.700 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 0.762 | 8.91 % | |
| R2 | 0.733 | 4.72 % | ||
| R1 | 0.715 | 2.13 % | ||
| Current price: | 0.700 | |||
| Support | S1 | 0.656 | -6.25 % | |
| S2 | 0.638 | -8.84 % | ||
| S3 | 0.609 | -13.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.80 | 14.44 % | |
| R2 | 0.799 | 14.11 % | ||
| R1 | 0.787 | 12.36 % | ||
| Current price | 0.700 | |||
| Support | S1 | 0.610 | -12.86% | |
| S2 | 0.595 | -14.96% | ||
| S3 | 0.533 | -23.83% |
FAQ
Click here for our free guide on how to buy Cara Therapeutics Stock.
