Processa Pharmaceuticals Inc. Stock Forecast
Processa Pharmaceuticals Inc. stock downgraded to Strong Sell Candidate
(Updated on Apr 22, 2024)
The Processa Pharmaceuticals Inc. stock price fell by -3.16% on the last day (Monday, 22nd Apr 2024) from $1.58 to $1.53. During the last trading day the stock fluctuated 6.67% from a day low at $1.50 to a day high of $1.60. The price has fallen in 7 of the last 10 days and is down by -48.74% for this period. Volume has increased on the last day by 12 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, 31 thousand shares were bought and sold for approximately $47.19 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.23 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -16.35% during the next 3 months and, with a 90% probability hold a price between $1.02 and $3.59 at the end of this 3-month period.
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PCSA Signals & Forecast
There are few to no technical positive signals at the moment. The Processa Pharmaceuticals 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 $1.58 and $2.17. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, January 25, 2024, and so far it has fallen -70.00%. 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). Processa Pharmaceuticals 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Processa Pharmaceuticals Inc. stock
Processa Pharmaceuticals Inc. finds support from accumulated volume at $1.52 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 a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.100 between high and low, or 6.67%. For the last week, the stock has had daily average volatility of 9.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PCSA) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Processa Pharmaceuticals Inc. to open at $1.54, and during the day (based on 14 day Average True Range), to move between $1.25 and $1.81, which gives a possible trading interval of +/-$0.282 (+/-18.41%) up or down from last closing price. If Processa Pharmaceuticals Inc. takes out the full calculated possible swing range there will be an estimated 36.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.54 (0.65%) than the support at $1.52 (0.98%), 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 Processa Pharmaceuticals Inc. stock A Buy?
Processa Pharmaceuticals 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: -5.210 Strong Sell Candidate Downgraded
Predicted Opening Price for Processa Pharmaceuticals Inc. of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $1.54 ( 0.87%) | $1.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PCSA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.64 | 7.41 % | |
| R2 | 1.61 | 4.91 % | ||
| R1 | 1.58 | 3.37 % | ||
| Current price: | 1.53 | |||
| Support | S1 | 1.51 | -1.63 % | |
| S2 | 1.48 | -3.17 % | ||
| S3 | 1.44 | -5.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.84 | 20.26 % | |
| R2 | 1.76 | 15.03 % | ||
| R1 | 1.54 | 0.654 % | ||
| Current price | 1.53 | |||
| Support | S1 | 1.52 | -0.98% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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