Hoth Therapeutics Inc. Stock Forecast
Hoth Therapeutics Inc. stock price ended at $1.17 on Thursday, after losing 0%.
(Updated on Apr 25, 2024)
No changes to the price of Hoth Therapeutics Inc. stock on the last trading day (Thursday, 25th Apr 2024). During the last trading day the stock fluctuated 9.09% from a day low at $1.10 to a day high of $1.20. The price has fallen in 5 of the last 10 days and is down by -7.87% for this period.
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 $1.10 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -6.51% during the next 3 months and, with a 90% probability hold a price between $1.03 and $1.50 at the end of this 3-month period.
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HOTH Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 1.74%. Further rise is indicated until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Hoth 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 $1.18 and $1.31. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Monday, April 22, 2024 and based on theory for this formation the price should go up by 19.66% to $1.40 within 24 trading days since signal was issued (Friday, April 26, 2024).
Support, Risk & Stop-loss for Hoth Therapeutics Inc. stock
Hoth Therapeutics Inc. finds support from accumulated volume at $1.16 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 $0.1000 between high and low, or 9.09%. For the last week, the stock has had daily average volatility of 6.32%.
Hoth Therapeutics Inc. is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HOTH) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Hoth Therapeutics Inc. to open at $1.16, and during the day (based on 14 day Average True Range), to move between $1.07 and $1.27, which gives a possible trading interval of +/-$0.0979 (+/-8.37%) up or down from last closing price. If Hoth Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 16.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.16 (0.85%) than the resistance at $1.35 (15.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hoth Therapeutics Inc. stock A Buy?
Hoth Therapeutics 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.
Current score: -3.255 Sell Candidate Unchanged
Predicted Opening Price for Hoth Therapeutics Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $1.16 ( 1.14%) | $1.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HOTH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.26 | 7.41 % | |
| R2 | 1.22 | 4.14 % | ||
| R1 | 1.19 | 2.13 % | ||
| Current price: | 1.17 | |||
| Support | S1 | 1.12 | -4.40 % | |
| S2 | 1.09 | -6.42 % | ||
| S3 | 1.06 | -9.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.46 | 24.79 % | |
| R2 | 1.38 | 17.95 % | ||
| R1 | 1.35 | 15.38 % | ||
| Current price | 1.17 | |||
| Support | S1 | 1.16 | -0.85% | |
| S2 | 1.15 | -1.71% | ||
| S3 | 0 | . |
FAQ
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