Trevena Stock Forecast
Big movements in Trevena stock price on Friday moving 11.29% between high and low
(Updated on Apr 19, 2024)
The Trevena stock price fell by -3.83% on the last day (Friday, 19th Apr 2024) from $0.366 to $0.352. During the last trading day the stock fluctuated 11.29% from a day low at $0.323 to a day high of $0.360. The price has been going up and down for this period, and there has been a -15.59% loss for the last 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 -1 million shares and in total, 163 thousand shares were bought and sold for approximately $57.29 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 -42.39% during the next 3 months and, with a 90% probability hold a price between $0.179 and $0.230 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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TRVN Signals & Forecast
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. The Trevena 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 $0.386 and $0.471. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -15.59%. 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 Trevena stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0365 between high and low, or 11.29%. For the last week the stock has had daily average volatility of 11.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TRVN) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Trevena to open at $0.345, and during the day (based on 14 day Average True Range), to move between $0.311 and $0.393, which gives a possible trading interval of +/-$0.0406 (+/-11.54%) up or down from last closing price. If Trevena takes out the full calculated possible swing range there will be an estimated 23.08% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.366, some $0.0140 (3.98%) from the current price of $0.352, our system finds the risk reward not very attractive.
Is Trevena stock A Buy?
Trevena 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: -7.237 Strong Sell Candidate Unchanged
Predicted Opening Price for Trevena of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $0.345 ( 1.96%) | $0.352 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRVN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.382 | 8.41 % | |
| R2 | 0.368 | 4.45 % | ||
| R1 | 0.359 | 2.00 % | ||
| Current price: | 0.352 | |||
| Support | S1 | 0.331 | -5.92 % | |
| S2 | 0.323 | -8.37 % | ||
| S3 | 0.309 | -12.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.402 | 14.20 % | |
| R2 | 0.400 | 13.64 % | ||
| R1 | 0.366 | 3.98 % | ||
| Current price | 0.352 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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