Cara Therapeutics Stock Forecast
Cara Therapeutics stock price down 2.24% on Friday
(Updated on Apr 26, 2024)
The Cara Therapeutics stock price fell by -2.24% on the last day (Friday, 26th Apr 2024) from $0.700 to $0.684. During the last trading day the stock fluctuated 6.82% from a day low at $0.680 to a day high of $0.726. The price has fallen in 7 of the last 10 days and is down by -10.44% for this period. 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 -140 thousand shares and in total, 167 thousand shares were bought and sold for approximately $113.99 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 $0.675 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 18.45% during the next 3 months and, with a 90% probability hold a price between $0.80 and $1.36 at the end of this 3-month period.
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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 $0.692 and $0.82. 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 -34.83%. 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 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.
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 $0.520.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0464 between high and low, or 6.82%. For the last week the stock has had daily average volatility of 9.10%.
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 29th
For the upcoming trading day on Monday, 29th we expect Cara Therapeutics to open at $0.697, and during the day (based on 14 day Average True Range), to move between $0.610 and $0.758, which gives a possible trading interval of +/-$0.0740 (+/-10.82%) up or down from last closing price. If Cara Therapeutics takes out the full calculated possible swing range there will be an estimated 21.64% 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 (10.86%) than the resistance at $0.787 (14.93%), 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: -3.227 Sell Candidate Unchanged
Predicted Opening Price for Cara Therapeutics of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.697 ( 1.84%) | $0.684 |
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 | 0.743 | 8.62 % | |
| R2 | 0.726 | 6.03 % | ||
| R1 | 0.715 | 4.43 % | ||
| Current price: | 0.684 | |||
| Support | S1 | 0.679 | -0.749 % | |
| S2 | 0.668 | -2.35 % | ||
| S3 | 0.651 | -4.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.80 | 17.07 % | |
| R2 | 0.799 | 16.73 % | ||
| R1 | 0.787 | 14.93 % | ||
| Current price | 0.684 | |||
| Support | S1 | 0.610 | -10.86% | |
| S2 | 0.595 | -13.01% | ||
| S3 | 0.520 | -24.00% |
FAQ
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