Denali Therapeutics Inc. Stock Forecast
Denali Therapeutics Inc. stock price ended at $14.96 on Thursday, after losing 3.86%.
(Updated on Apr 25, 2024)
The Denali Therapeutics Inc. stock price fell by -3.86% on the last day (Thursday, 25th Apr 2024) from $15.56 to $14.96. During the last trading day the stock fluctuated 4.60% from a day low at $14.58 to a day high of $15.25. The price has fallen in 9 of the last 10 days and is down by -21.96% for this period. Volume has increased on the last day by 320 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, 1 million shares were bought and sold for approximately $17.00 million.
Given the current short-term trend, the stock is expected to rise 3.43% during the next 3 months and, with a 90% probability hold a price between $15.47 and $24.69 at the end of this 3-month period.
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DNLI Signals & Forecast
There are few to no technical positive signals at the moment. The Denali Therapeutics Inc. 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 $16.01 and $19.07. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, February 27, 2024, and so far it has fallen -35.93%. 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.
Support, Risk & Stop-loss for Denali Therapeutics Inc. 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 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 $0.670 between high and low, or 4.60%. For the last week, the stock has had daily average volatility of 5.09%.
Denali Therapeutics Inc. is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DNLI) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Denali Therapeutics Inc. to open at $14.93, and during the day (based on 14 day Average True Range), to move between $14.06 and $15.86, which gives a possible trading interval of +/-$0.90 (+/-6.00%) up or down from last closing price. If Denali Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 11.99% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $15.99, some $1.03 (6.89%) from the current price of $14.96, our system finds the risk reward not very attractive.
Is Denali Therapeutics Inc. stock A Buy?
The Denali Therapeutics Inc. stock holds several negative signals and despite the positive trend, we believe Denali Therapeutics Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.200 Sell Candidate Unchanged
Predicted Opening Price for Denali Therapeutics Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $14.93 ( 0.201%) | $14.96 |
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 | 15.60 | 4.28 % | |
| R2 | 15.34 | 2.57 % | ||
| R1 | 15.19 | 1.51 % | ||
| Current price: | 14.96 | |||
| Support | S1 | 14.67 | -1.91 % | |
| S2 | 14.52 | -2.97 % | ||
| S3 | 14.26 | -4.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.02 | 13.77 % | |
| R2 | 16.01 | 7.02 % | ||
| R1 | 15.99 | 6.89 % | ||
| Current price | 14.96 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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