Dermata Therapeutics, Inc. Stock Forecast
Dermata Therapeutics, Inc. stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Jun 26, 2024)
No changes to the price of Dermata Therapeutics, Inc. stock on the last trading day (Wednesday, 26th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0079 to a day high of $0.0079. The price has been going up and down for this period, and there has been a -3.66% loss for the last 2 weeks.
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 -26.24% during the next 3 months and, with a 90% probability hold a price between $0.0036 and $0.0102 at the end of this 3-month period.
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DRMAW Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has fallen 0%. 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 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 $0.0085 and $0.0104. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Friday, May 17, 2024 and based on theory for this formation the price should fall by -98.73% to $0.0001 within 2 trading days since signal was issued (Tuesday, May 21, 2024).
Support, Risk & Stop-loss for Dermata Therapeutics, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0070. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 12.91%
Our recommended stop-loss: $0.0074 (-6.12%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (DRMAW) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Dermata Therapeutics, Inc. to open at $0.0079, and during the day (based on 14 day Average True Range), to move between $0.0052 and $0.0106, which gives a possible trading interval of +/-$0.0027 (+/-34.62%) up or down from last closing price. If Dermata Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 69.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0085 (7.59%) than the support at $0.0070 (11.39%), 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 Dermata Therapeutics, Inc. stock A Buy?
Dermata Therapeutics, Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Dermata Therapeutics, Inc. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $0.0079 ( 0%) | $0.0079 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DRMAW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0079 | - |
| R2 | 0.0079 | - |
| R1 | 0.0079 | - |
| Price | 0.0079 | |
| S1 | 0.0079 | - |
| S2 | 0.0079 | - |
| S3 | 0.0079 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0096 | 21.52% |
| R2 | 0.0095 | 20.25% |
| R1 | 0.0085 | 7.59% |
| Price | 0.0079 | |
| S1 | 0.0070 | -11.39% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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