Carisma Therapeutics, Inc. Stock Forecast
High volatility in Carisma Therapeutics, Inc. stock price on Friday which ended trading at $1.52
(Updated on Jun 28, 2024)
The Carisma Therapeutics, Inc. stock price gained 18.75% on the last trading day (Friday, 28th Jun 2024), rising from $1.28 to $1.52. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 33.80% from a day low at $1.42 to a day high of $1.90. The price has risen in 6 of the last 10 days and is up by 29.91% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 24 million more shares were traded than the day before. In total, 24 million shares were bought and sold for approximately $37.00 million.
Given the current short-term trend, the stock is expected to fall -37.97% during the next 3 months and, with a 90% probability hold a price between $0.571 and $0.94 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CARM Signals & Forecast
The Carisma Therapeutics, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $1.19 and $1.27. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 50.50%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Carisma Therapeutics, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.41 and $1.33. 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, Carisma Therapeutics, Inc. finds support just below today's level at $1.41. If this is broken, then the next support from accumulated volume will be at $1.33 and $1.15.
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 $0.480 between high and low, or 33.80%. For the last week, the stock has had daily average volatility of 17.51%.
Since the Carisma Therapeutics, Inc. has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: $1.47 (-3.60%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (CARM) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Carisma Therapeutics, Inc. to open at $1.61, and during the day (based on 14 day Average True Range), to move between $1.38 and $1.66, which gives a possible trading interval of +/-$0.145 (+/-9.51%) up or down from last closing price. If Carisma Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 19.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.55 (1.97%) than the support at $1.41 (7.24%), 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 Carisma Therapeutics, Inc. stock A Buy?
Carisma Therapeutics, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Carisma Therapeutics, Inc. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $1.61 ( 6.14%) | $1.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CARM
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.09 | 37.72% |
| R2 | 1.91 | 25.66% |
| R1 | 1.80 | 18.20% |
| Price | 1.52 | |
| S1 | 1.43 | -5.92% |
| S2 | 1.32 | -13.38% |
| S3 | 1.13 | -25.44% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.70 | 11.84% |
| R2 | 1.63 | 7.24% |
| R1 | 1.55 | 1.97% |
| Price | 1.52 | |
| S1 | 1.41 | -7.24% |
| S2 | 1.33 | -12.50% |
| S3 | 1.15 | -24.34% |
CARM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 03, 2023 | Mar 08, 2023 | Mar 08, 2023 | $0.361 | 9.84% |
FAQ
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