Protara Therapeutics, Inc. Stock Forecast
Red day on Monday for Protara Therapeutics, Inc. stock after losing 0.344%
(Updated on May 06, 2024)
The Protara Therapeutics, Inc. stock price fell by -0.344% on the last day (Monday, 6th May 2024) from $2.91 to $2.90. During the last trading day the stock fluctuated 4.51% from a day low at $2.88 to a day high of $3.01. The price has fallen in 7 of the last 10 days and is down by -4.92% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -25 thousand shares and in total, 109 thousand shares were bought and sold for approximately $316.41 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -19.23% during the next 3 months and, with a 90% probability hold a price between $1.99 and $3.29 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
TARA Signals & Forecast
There are mixed signals in the stock today. The Protara 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 $2.95 and $3.38. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 9.85%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Protara Therapeutics, Inc. stock
Protara Therapeutics, Inc. finds support from accumulated volume at $2.89 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.130 between high and low, or 4.51%. For the last week the stock has had daily average volatility of 6.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TARA) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Protara Therapeutics, Inc. to open at $2.93, and during the day (based on 14 day Average True Range), to move between $2.61 and $3.19, which gives a possible trading interval of +/-$0.285 (+/-9.84%) up or down from last closing price. If Protara Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 19.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.89 (0.34%) than the resistance at $3.00 (3.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Protara Therapeutics, Inc. stock A Buy?
Protara 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.
Current score: -2.909 Sell Candidate Unchanged
Predicted Opening Price for Protara Therapeutics, Inc. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $2.93 ( 1.03%) | $2.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TARA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.06 | 5.52 % | |
| R2 | 3.01 | 3.80 % | ||
| R1 | 2.98 | 2.75 % | ||
| Current price: | 2.90 | |||
| Support | S1 | 2.88 | -0.678 % | |
| S2 | 2.85 | -1.74 % | ||
| S3 | 2.80 | -3.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.10 | 6.90 % | |
| R2 | 3.05 | 5.17 % | ||
| R1 | 3.00 | 3.45 % | ||
| Current price | 2.90 | |||
| Support | S1 | 2.89 | -0.345% | |
| S2 | 2.82 | -2.76% | ||
| S3 | 2.75 | -5.17% |
FAQ
Click here for our free guide on how to buy Protara Therapeutics, Inc. Stock.
