Kintara Therapeutics Inc. Stock Forecast
Big movements in Kintara Therapeutics Inc. stock price on Wednesday moving 10.01% between high and low
(Updated on Apr 24, 2024)
The Kintara Therapeutics Inc. stock price gained 3.47% on the last trading day (Wednesday, 24th Apr 2024), rising from $0.133 to $0.137. During the last trading day the stock fluctuated 10.01% from a day low at $0.130 to a day high of $0.143. The price has been going up and down for this period, and there has been a 7.01% gain for the last 2 weeks. Volume fell on the last day by -2 million shares and in total, 6 million shares were bought and sold for approximately $793.15 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Kintara Therapeutics Inc. stock with a 90% probability to be traded between $0.0831 and $0.163 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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KTRA Signals & Forecast
The Kintara Therapeutics Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.118 and $0.109. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 32.27%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 also not.
Support, Risk & Stop-loss for Kintara Therapeutics Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.122 and $0.104. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Kintara Therapeutics Inc. finds support just below today's level at $0.122. If this is broken, then the next support from accumulated volume will be at $0.104 and $0.103.
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 $0.0130 between high and low, or 10.01%. For the last week the stock has had daily average volatility of 12.19%.
Our recommended stop-loss: $0.132 (-3.56%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (KTRA) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Kintara Therapeutics Inc. to open at $0.137, and during the day (based on 14 day Average True Range), to move between $0.120 and $0.155, which gives a possible trading interval of +/-$0.0173 (+/-12.57%) up or down from last closing price. If Kintara Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 25.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.144 (4.66%) than the support at $0.122 (11.07%), 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 Kintara Therapeutics Inc. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Kintara Therapeutics Inc. stock to perform well in the short-term period. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.545 Buy Candidate Downgraded
Predicted Opening Price for Kintara Therapeutics Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.137 ( 0.437%) | $0.137 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KTRA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.150 | 9.03 % | |
| R2 | 0.145 | 5.41 % | ||
| R1 | 0.142 | 3.18 % | ||
| Current price: | 0.137 | |||
| Support | S1 | 0.132 | -4.05 % | |
| S2 | 0.129 | -6.29 % | ||
| S3 | 0.124 | -9.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.164 | 19.45 % | |
| R2 | 0.145 | 5.46 % | ||
| R1 | 0.144 | 4.66 % | ||
| Current price | 0.137 | |||
| Support | S1 | 0.122 | -11.07% | |
| S2 | 0.104 | -24.25% | ||
| S3 | 0.103 | -24.98% |
FAQ
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