Dermata Therapeutics, Inc. Stock Forecast
Dermata Therapeutics, Inc. stock price ended at $0.340 on Thursday, after losing 4.68%.
(Updated on Apr 25, 2024)
The Dermata Therapeutics, Inc. stock price fell by -4.68% on the last day (Thursday, 25th Apr 2024) from $0.357 to $0.340. During the last trading day the stock fluctuated 2.68% from a day low at $0.332 to a day high of $0.341. The price has been going up and down for this period, and there has been a -14.98% loss for the last 2 weeks. 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 -7 thousand shares and in total, 10 thousand shares were bought and sold for approximately $3.27 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -25.42% during the next 3 months and, with a 90% probability hold a price between $0.187 and $0.296 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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DRMA Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 27.62%. 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 Dermata Therapeutics, 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 $0.386. On a fall, the stock will find some support from the short-term average at $0.335. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Dermata Therapeutics, Inc. stock
Dermata Therapeutics, Inc. finds support from accumulated volume at $0.338 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 $0.0089 between high and low, or 2.68%. For the last week the stock has had daily average volatility of 8.29%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DRMA) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Dermata Therapeutics, Inc. to open at $0.338, and during the day (based on 14 day Average True Range), to move between $0.303 and $0.378, which gives a possible trading interval of +/-$0.0375 (+/-11.02%) up or down from last closing price. If Dermata Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 22.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.338 (0.56%) than the resistance at $0.382 (12.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Dermata Therapeutics, Inc. stock A Buy?
Dermata Therapeutics, 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: -1.720 Sell Candidate Unchanged
Predicted Opening Price for Dermata Therapeutics, Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.338 ( 0.715%) | $0.340 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DRMA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.347 | 1.90 % | |
| R2 | 0.343 | 0.90 % | ||
| R1 | 0.341 | 0.284 % | ||
| Current price: | 0.340 | |||
| Support | S1 | 0.334 | -1.72 % | |
| S2 | 0.332 | -2.33 % | ||
| S3 | 0.329 | -3.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.415 | 22.08 % | |
| R2 | 0.400 | 17.61 % | ||
| R1 | 0.382 | 12.44 % | ||
| Current price | 0.340 | |||
| Support | S1 | 0.338 | -0.559% | |
| S2 | 0.300 | -11.73% | ||
| S3 | 0.267 | -21.64% |
FAQ
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