DelMar Pharmaceuticals Inc Stock Forecast

Volatile ride for DelMar Pharmaceuticals Inc stock price on Monday moving between $1.56 and $1.95
(Updated on Sep 14, 2020)

DMPI Signals & Forecast

Mostly positive signals in the chart today. The DelMar Pharmaceuticals Inc 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 $1.45 and $1.20. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, July 02, 2020, and so far it has risen 157.96%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for DelMar Pharmaceuticals Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at $1.40 and $1.28. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, DelMar Pharmaceuticals Inc finds support just below today's level at $1.40. If this is broken, then the next support from accumulated volume will be at $1.28 and $1.26.

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 $0.390 between high and low, or 24.99%. For the last week, the stock has had daily average volatility of 15.90%.

The DelMar Pharmaceuticals Inc stock is extremely overbought on RSI14 (92). This increases the short-term risk substantially. Since the DelMar Pharmaceuticals Inc has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $1.57 (-3.16%) (This stock has high daily movements and this gives high risk. The RSI14 is 92 and this increases the risk substantially. There is a buy signal from a pivot bottom found 50 days ago.)

Trading Expectations (DMPI) For The Upcoming Trading Day Of Tuesday 15th

For the upcoming trading day on Tuesday, 15th we expect DelMar Pharmaceuticals Inc to open at $1.71, and during the day (based on 14 day Average True Range), to move between $1.46 and $1.78, which gives a possible trading interval of +/-$0.160 (+/-9.90%) up or down from last closing price. If DelMar Pharmaceuticals Inc takes out the full calculated possible swing range there will be an estimated 19.80% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $1.40, some $0.220 (13.58%) from the current price of $1.62, our system finds the risk reward attractive.

Is DelMar Pharmaceuticals Inc stock A Buy?

DelMar Pharmaceuticals Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Current score: 7.193 Strong Buy Candidate Unchanged

Predicted Opening Price for DelMar Pharmaceuticals Inc of Tuesday, September 15, 2020

The predicted opening price is based on yesterday's movements between high, low, and closing price.