Cara Therapeutics Stock Forecast
High volatility in Cara Therapeutics stock price on Thursday which ended trading at $0.91
(Updated on Mar 28, 2024)
The Cara Therapeutics stock price gained 4.72% on the last trading day (Thursday, 28th Mar 2024), rising from $0.87 to $0.91. During the last trading day the stock fluctuated 12.94% from a day low at $0.85 to a day high of $0.96. The price has been going up and down for this period, and there has been a 15.7% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 76 thousand more shares were traded than the day before. In total, 637 thousand shares were bought and sold for approximately $579.86 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 52.10% during the next 3 months and, with a 90% probability hold a price between $1.12 and $1.74 at the end of this 3-month period.
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CARA Signals & Forecast
The Cara Therapeutics stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.86 and $0.82. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 24.62%. Further rise is indicated until a new top pivot has been found. Cara Therapeutics has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Cara Therapeutics stock
Cara Therapeutics finds support from accumulated volume at $0.91 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 $0.110 between high and low, or 12.94%. For the last week, the stock has had daily average volatility of 13.17%.
Our recommended stop-loss: $0.87 (-4.10%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (CARA) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Cara Therapeutics to open at $0.91, and during the day (based on 14 day Average True Range), to move between $0.799 and $1.02, which gives a possible trading interval of +/-$0.111 (+/-12.24%) up or down from last closing price. If Cara Therapeutics takes out the full calculated possible swing range there will be an estimated 24.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.91 (0.32%) than the resistance at $0.95 (4.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cara Therapeutics stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Cara Therapeutics stock to perform well in the short-term.
Current score: 4.816 Buy Candidate Unchanged
Predicted Opening Price for Cara Therapeutics of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$0.91 ( 0.366%) | $0.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CARA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.02 | 11.72 % | |
R2 | 0.97 | 7.10 % | ||
R1 | 0.95 | 4.25 % | ||
Current price: | 0.91 | |||
Support | S1 | 0.86 | -4.98 % | |
S2 | 0.84 | -7.84 % | ||
S3 | 0.797 | -12.45 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.00 | 9.87 % | |
R2 | 0.98 | 7.85 % | ||
R1 | 0.95 | 4.40 % | ||
Current price | 0.91 | |||
Support | S1 | 0.91 | -0.319% | |
S2 | 0.80 | -11.97% | ||
S3 | 0.743 | -18.35% |
FAQ
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