Lantern Pharma Inc. Stock Forecast
Big movements in Lantern Pharma Inc. stock price on Monday moving 10.06% between high and low
(Updated on Jun 17, 2024)
The Lantern Pharma Inc. stock price fell by -8.57% on the last day (Monday, 17th Jun 2024) from $5.37 to $4.91. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 10.06% from a day low at $4.77 to a day high of $5.25. The price has fallen in 7 of the last 10 days and is down by -21.44% for this period. Volume has increased on the last day by 45 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 125 thousand shares were bought and sold for approximately $613.75 thousand.
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 $5.22 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 -40.45% during the next 3 months and, with a 90% probability hold a price between $1.80 and $3.11 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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LTRN Signals & Forecast
There are few to no technical positive signals at the moment. The Lantern Pharma 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 $5.42 and $5.96. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -28.32%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Lantern Pharma Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Lantern Pharma Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.480 between high and low, or 10.06%. For the last week, the stock has had daily average volatility of 8.02%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LTRN) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Lantern Pharma Inc. to open at $4.98, and during the day (based on 14 day Average True Range), to move between $4.41 and $5.41, which gives a possible trading interval of +/-$0.499 (+/-10.17%) up or down from last closing price. If Lantern Pharma Inc. takes out the full calculated possible swing range there will be an estimated 20.34% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $4.93, some $0.0200 (0.41%) from the current price of $4.91, our system finds the risk reward not very attractive.
Is Lantern Pharma Inc. stock A Buy?
Lantern Pharma Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -7.492 Strong Sell Candidate Downgraded
Predicted Opening Price for Lantern Pharma Inc. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $4.98 ( 1.36%) | $4.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LTRN
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.46 | 11.13% |
| R2 | 5.27 | 7.40% |
| R1 | 5.16 | 5.09% |
| Price | 4.91 | |
| S1 | 4.79 | -2.38% |
| S2 | 4.68 | -4.68% |
| S3 | 4.50 | -8.42% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.72 | 16.50% |
| R2 | 5.34 | 8.76% |
| R1 | 4.93 | 0.407% |
| Price | 4.91 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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