Denali Capital Acquisition Corp. Stock Forecast
Evaluation of Denali Capital Acquisition Corp. stock downgraded after the last trading session.
(Updated on Jun 28, 2024)
No changes to the price of Denali Capital Acquisition Corp. stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 5.00% from a day low at $0.0200 to a day high of $0.0210. The price has been going up and down for this period, and there has been a -61.83% loss for the last 2 weeks.
The stock has broken the very wide and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $0.0200 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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DECAW Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has fallen 0%. 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 Denali Capital Acquisition Corp. 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 $0.0434 and $0.0453. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Denali Capital Acquisition Corp. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0010 between high and low, or 5.00%. For the last week the stock has had daily average volatility of 66.20%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DECAW) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Denali Capital Acquisition Corp. to open at $0.0203, and during the day (based on 14 day Average True Range), to move between $0.0036 and $0.0364, which gives a possible trading interval of +/-$0.0164 (+/-82.03%) up or down from last closing price. If Denali Capital Acquisition Corp. takes out the full calculated possible swing range there will be an estimated 164.06% move between the lowest and the highest trading price during the day.
Is Denali Capital Acquisition Corp. stock A Buy?
Denali Capital Acquisition Corp. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -5.969 Strong Sell Candidate Downgraded
Predicted Opening Price for Denali Capital Acquisition Corp. of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
$0.0203 ( 1.67%) | $0.0200 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DECAW
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0213 | 6.67% |
R2 | 0.0210 | 4.76% |
R1 | 0.0207 | 3.58% |
Price | 0.0200 | |
S1 | 0.0200 | -0.243% |
S2 | 0.0197 | -1.42% |
S3 | 0.0193 | -3.33% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0 | - |
Price | 0.0200 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
FAQ
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