Denali Therapeutics Inc. Stock Forecast
Stronger technical forecast for Denali Therapeutics Inc. stock price after Thursday trading.
(Updated on Mar 28, 2024)
The Denali Therapeutics Inc. stock price fell by -1.20% on the last day (Thursday, 28th Mar 2024) from $20.77 to $20.52. During the last trading day the stock fluctuated 4.57% from a day low at $20.12 to a day high of $21.04. The price has risen in 6 of the last 10 days and is up by 3.9% over the past 2 weeks. Volume has increased on the last day by 190 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 957 thousand shares were bought and sold for approximately $19.64 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.07% during the next 3 months and, with a 90% probability hold a price between $19.21 and $26.90 at the end of this 3-month period.
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DNLI Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, February 27, 2024, and so far it has fallen -12.12%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Denali Therapeutics Inc. 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 $20.42 and $19.48. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Denali Therapeutics Inc. stock
Denali Therapeutics Inc. finds support from accumulated volume at $20.21 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.92 between high and low, or 4.57%. For the last week, the stock has had daily average volatility of 4.85%.
Our recommended stop-loss: $19.79 (-3.54%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (DNLI) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Denali Therapeutics Inc. to open at $20.56, and during the day (based on 14 day Average True Range), to move between $19.44 and $21.60, which gives a possible trading interval of +/-$1.08 (+/-5.27%) up or down from last closing price. If Denali Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 10.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $20.77 (1.22%) than the support at $20.21 (1.51%), 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 Denali Therapeutics Inc. 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 Denali Therapeutics Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.080 Buy Candidate Upgraded
Predicted Opening Price for Denali Therapeutics Inc. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$20.56 ( 0.195%) | $20.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DNLI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 21.48 | 4.68 % | |
R2 | 21.13 | 2.97 % | ||
R1 | 20.91 | 1.91 % | ||
Current price: | 20.52 | |||
Support | S1 | 20.21 | -1.52 % | |
S2 | 19.99 | -2.58 % | ||
S3 | 19.64 | -4.29 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.35 | 13.79 % | |
R2 | 20.86 | 1.66 % | ||
R1 | 20.77 | 1.22 % | ||
Current price | 20.52 | |||
Support | S1 | 20.21 | -1.51% | |
S2 | 20.13 | -1.90% | ||
S3 | 17.02 | -17.06% |
FAQ
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