Larimar Therapeutics, Inc. Stock Forecast
Larimar Therapeutics, Inc. stock upgraded to Sell Candidate.
(Updated on May 13, 2024)
The Larimar Therapeutics, Inc. stock price gained 2.81% on the last trading day (Monday, 13th May 2024), rising from $7.12 to $7.32. During the last trading day the stock fluctuated 7.67% from a day low at $7.04 to a day high of $7.58. The price has risen in 6 of the last 10 days and is up by 10.74% over the past 2 weeks. Volume fell on the last day by -156 thousand shares and in total, 206 thousand shares were bought and sold for approximately $1.50 million. 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 lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $7.76 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -43.14% during the next 3 months and, with a 90% probability hold a price between $2.94 and $4.41 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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LRMR Signals & Forecast
The Larimar Therapeutics, Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $7.77. On a fall, the stock will find some support from the long-term average at approximately $7.19. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -11.17%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Larimar Therapeutics, Inc. stock
Larimar Therapeutics, Inc. finds support from accumulated volume at $7.22 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.540 between high and low, or 7.67%. For the last week, the stock has had daily average volatility of 6.96%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LRMR) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect Larimar Therapeutics, Inc. to open at $7.31, and during the day (based on 14 day Average True Range), to move between $6.79 and $7.85, which gives a possible trading interval of +/-$0.526 (+/-7.19%) up or down from last closing price. If Larimar Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 14.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.22 (1.37%) than the resistance at $8.35 (14.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Larimar Therapeutics, Inc. stock A Buy?
Larimar 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -1.881 Sell Candidate Upgraded
Predicted Opening Price for Larimar Therapeutics, Inc. of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| $7.31 ( 0.0911%) | $7.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LRMR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.85 | 7.29 % | |
| R2 | 7.65 | 4.47 % | ||
| R1 | 7.52 | 2.73 % | ||
| Current price: | 7.32 | |||
| Support | S1 | 7.11 | -2.91 % | |
| S2 | 6.98 | -4.65 % | ||
| S3 | 6.77 | -7.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.77 | 19.81 % | |
| R2 | 8.63 | 17.90 % | ||
| R1 | 8.35 | 14.07 % | ||
| Current price | 7.32 | |||
| Support | S1 | 7.22 | -1.37% | |
| S2 | 7.20 | -1.64% | ||
| S3 | 6.84 | -6.56% |
FAQ
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