Danimer Scientific, Inc. Stock Forecast
Big movements in Danimer Scientific, Inc. stock price on Wednesday moving 12.63% between high and low
(Updated on Apr 24, 2024)
The Danimer Scientific, Inc. stock price fell by -4.84% on the last day (Wednesday, 24th Apr 2024) from $0.85 to $0.81. During the last trading day the stock fluctuated 12.63% from a day low at $0.780 to a day high of $0.88. The price has fallen in 6 of the last 10 days and is down by -14.08% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 608 thousand shares were bought and sold for approximately $490.62 thousand.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.731 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 8.33% during the next 3 months and, with a 90% probability hold a price between $0.792 and $1.92 at the end of this 3-month period.
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DNMR Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Danimer Scientific, Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $1.12. On a fall, the stock will find some support from the short-term average at $0.80. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, March 11, 2024, and so far it has fallen -52.51%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Danimer Scientific, Inc. stock
Danimer Scientific, Inc. finds support from accumulated volume at $0.787 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0985 between high and low, or 12.63%. For the last week the stock has had daily average volatility of 11.29%.
Danimer Scientific, Inc. is oversold on RSI14 (21). 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 (DNMR) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Danimer Scientific, Inc. to open at $0.82, and during the day (based on 14 day Average True Range), to move between $0.697 and $0.92, which gives a possible trading interval of +/-$0.111 (+/-13.69%) up or down from last closing price. If Danimer Scientific, Inc. takes out the full calculated possible swing range there will be an estimated 27.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.787 (2.59%) than the resistance at $0.85 (5.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Danimer Scientific, Inc. stock A Buy?
Danimer Scientific, Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -4.052 Sell Candidate Unchanged
Predicted Opening Price for Danimer Scientific, Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.82 ( 1.80%) | $0.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DNMR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.92 | 14.00 % | |
| R2 | 0.88 | 9.34 % | ||
| R1 | 0.86 | 6.46 % | ||
| Current price: | 0.81 | |||
| Support | S1 | 0.784 | -2.86 % | |
| S2 | 0.761 | -5.74 % | ||
| S3 | 0.723 | -10.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.00 | 23.41 % | |
| R2 | 0.90 | 11.47 % | ||
| R1 | 0.85 | 5.09 % | ||
| Current price | 0.81 | |||
| Support | S1 | 0.787 | -2.59% | |
| S2 | 0.779 | -3.49% | ||
| S3 | 0.655 | -18.89% |
FAQ
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