Strata Skin Sciences Inc Stock Forecast
A very red day for Strata Skin Sciences Inc stock price after a -5.50% fall in the Thursday trading session
(Updated on Apr 25, 2024)
The Strata Skin Sciences Inc stock price fell by -5.50% on the last day (Thursday, 25th Apr 2024) from $0.560 to $0.529. During the last trading day the stock fluctuated 5.82% from a day low at $0.529 to a day high of $0.560. The price has risen in 6 of the last 10 days and is up by 0.53% over the past 2 weeks. 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 -3 thousand shares and in total, 2 thousand shares were bought and sold for approximately $1.18 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.559 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -5.65% during the next 3 months and, with a 90% probability hold a price between $0.347 and $0.528 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SSKN Signals & Forecast
The Strata Skin Sciences Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.537. On a fall, the stock will find some support from the long-term average at approximately $0.496. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -5.50%. Further fall is indicated until a new bottom pivot has been found. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Strata Skin Sciences Inc stock
Strata Skin Sciences Inc finds support from accumulated volume at $0.520 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0308 between high and low, or 5.82%. For the last week the stock has had daily average volatility of 7.57%.
Our recommended stop-loss: $0.498 (-5.90%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (SSKN) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Strata Skin Sciences Inc to open at $0.539, and during the day (based on 14 day Average True Range), to move between $0.481 and $0.578, which gives a possible trading interval of +/-$0.0486 (+/-9.19%) up or down from last closing price. If Strata Skin Sciences Inc takes out the full calculated possible swing range there will be an estimated 18.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.530 (0.17%) than the support at $0.520 (1.74%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Strata Skin Sciences Inc stock A Buy?
Strata Skin Sciences Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.398 Hold/Accumulate Downgraded
Predicted Opening Price for Strata Skin Sciences Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.539 ( 1.94%) | $0.529 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSKN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.570 | 7.76 % | |
| R2 | 0.559 | 5.54 % | ||
| R1 | 0.551 | 4.16 % | ||
| Current price: | 0.529 | |||
| Support | S1 | 0.528 | -0.283 % | |
| S2 | 0.520 | -1.66 % | ||
| S3 | 0.509 | -3.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.545 | 2.99 % | |
| R2 | 0.533 | 0.642 % | ||
| R1 | 0.530 | 0.170 % | ||
| Current price | 0.529 | |||
| Support | S1 | 0.520 | -1.74% | |
| S2 | 0.498 | -5.90% | ||
| S3 | 0.457 | -13.74% |
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