Journey Medical Corporation Stock Forecast

High volatility in Journey Medical Corporation stock price on Friday which ended trading at $5.64
(Updated on Jun 28, 2024)

DERM Signals & Forecast

The Journey Medical Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $5.21 and $4.44. A breakdown below any of these levels will issue sell signals. Journey Medical Corporation 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -5.05%. 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). The stock had a Golden Star Signal on Friday, April 05, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Journey Medical Corporation stock

Journey Medical Corporation finds support from accumulated volume at $5.61 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.580 between high and low, or 11.44%. For the last week, the stock has had daily average volatility of 6.86%.

Our recommended stop-loss: $5.32 (-5.74%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 42 days ago.)

Trading Expectations (DERM) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Journey Medical Corporation to open at $5.45, and during the day (based on 14 day Average True Range), to move between $5.25 and $6.03, which gives a possible trading interval of +/-$0.387 (+/-6.87%) up or down from last closing price. If Journey Medical Corporation takes out the full calculated possible swing range there will be an estimated 13.73% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $5.61 (0.53%) than the resistance at $5.68 (0.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Journey Medical Corporation stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Journey Medical Corporation stock to perform well in the short-term.

Current score: 4.783 Buy Candidate Unchanged

Predicted Opening Price for Journey Medical Corporation of Monday, July 1, 2024

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