Relmada Therapeutics, Inc. Stock Forecast
Big movements in Relmada Therapeutics, Inc. stock price on Wednesday moving 10.68% between high and low
(Updated on Mar 27, 2024)
The Relmada Therapeutics, Inc. stock price fell by -2.13% on the last day (Wednesday, 27th Mar 2024) from $4.69 to $4.59. During the last trading day the stock fluctuated 10.68% from a day low at $4.40 to a day high of $4.87. The price has been going up and down for this period, and there has been a -18.62% loss for the last 2 weeks. Volume has increased on the last day by 47 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, 150 thousand shares were bought and sold for approximately $687.25 thousand.
Given the current short-term trend, the stock is expected to rise 51.00% during the next 3 months and, with a 90% probability hold a price between $6.93 and $11.40 at the end of this 3-month period.
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RLMD Signals & Forecast
There are few to no technical positive signals at the moment. The Relmada 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 $4.79 and $5.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 01, 2024, and so far it has fallen -32.50%. 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). Relmada Therapeutics, 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 Relmada Therapeutics, Inc. stock
Relmada Therapeutics, Inc. finds support from accumulated volume at $4.56 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 $0.470 between high and low, or 10.68%. For the last week, the stock has had daily average volatility of 10.82%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RLMD) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Relmada Therapeutics, Inc. to open at $4.62, and during the day (based on 14 day Average True Range), to move between $4.07 and $5.11, which gives a possible trading interval of +/-$0.517 (+/-11.26%) up or down from last closing price. If Relmada Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 22.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.56 (0.65%) than the resistance at $4.66 (1.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Relmada Therapeutics, Inc. stock A Buy?
The Relmada Therapeutics, Inc. stock holds several negative signals and despite the positive trend, we believe Relmada Therapeutics, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.486 Sell Candidate Unchanged
Predicted Opening Price for Relmada Therapeutics, Inc. of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$4.62 ( 0.654%) | $4.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RLMD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.09 | 10.89 % | |
R2 | 4.91 | 6.98 % | ||
R1 | 4.80 | 4.57 % | ||
Current price: | 4.59 | |||
Support | S1 | 4.44 | -3.26 % | |
S2 | 4.33 | -5.67 % | ||
S3 | 4.15 | -9.59 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.40 | 17.65 % | |
R2 | 5.04 | 9.80 % | ||
R1 | 4.66 | 1.53 % | ||
Current price | 4.59 | |||
Support | S1 | 4.56 | -0.654% | |
S2 | 4.53 | -1.31% | ||
S3 | 4.44 | -3.38% |
FAQ
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