Dermata Therapeutics, Inc. Stock Forecast

Stronger technical forecast for Dermata Therapeutics, Inc. stock price after Monday trading.
(Updated on May 06, 2024)

DRMA Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 27.80%. Further rise is indicated until a new top pivot has been found. 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 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 $0.371. On a fall, the stock will find some support from the short-term average at $0.337. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. 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 $0.0189 between high and low, or 5.62%. For the last week the stock has had daily average volatility of 5.68%.

Our recommended stop-loss: $0.330 (-3.14%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 14 days ago.)

Trading Expectations (DRMA) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Dermata Therapeutics, Inc. to open at $0.344, and during the day (based on 14 day Average True Range), to move between $0.310 and $0.371, which gives a possible trading interval of +/-$0.0303 (+/-8.90%) up or down from last closing price. If Dermata Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 17.80% 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 (0.70%) than the resistance at $0.382 (12.27%), 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 positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.801 Hold/Accumulate Upgraded

Predicted Opening Price for Dermata Therapeutics, Inc. of Tuesday, May 7, 2024

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