Trevena Stock Forecast
Volatile ride for Trevena stock price on Monday moving between $0.323 and $0.390
(Updated on Apr 22, 2024)
The Trevena stock price gained 5.17% on the last trading day (Monday, 22nd Apr 2024), rising from $0.352 to $0.370. During the last trading day the stock fluctuated 20.51% from a day low at $0.323 to a day high of $0.390. The price has risen in 6 of the last 10 days but is still down by -9.99% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 261 thousand more shares were traded than the day before. In total, 424 thousand shares were bought and sold for approximately $156.83 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 -39.92% during the next 3 months and, with a 90% probability hold a price between $0.209 and $0.265 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
There are mixed signals in the stock today. 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 $0.379 and $0.466. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 5.17%. 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). Trevena 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.
Support, Risk & Stop-loss for Trevena stock
Trevena finds support from accumulated volume at $0.366 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 $0.0663 between high and low, or 20.51%. For the last week, the stock has had daily average volatility of 13.71%.
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 Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Trevena to open at $0.361, and during the day (based on 14 day Average True Range), to move between $0.328 and $0.413, which gives a possible trading interval of +/-$0.0425 (+/-11.47%) up or down from last closing price. If Trevena takes out the full calculated possible swing range there will be an estimated 22.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.366 (1.13%) than the resistance at $0.400 (8.05%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Trevena stock A Buy?
Trevena holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.242 Sell Candidate Upgraded
Predicted Opening Price for Trevena of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $0.361 ( 2.49%) | $0.370 |
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 | 0.427 | 15.42 % | |
| R2 | 0.402 | 8.57 % | ||
| R1 | 0.386 | 4.35 % | ||
| Current price: | 0.370 | |||
| Support | S1 | 0.336 | -9.34 % | |
| S2 | 0.320 | -13.56 % | ||
| S3 | 0.295 | -20.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.460 | 24.26 % | |
| R2 | 0.402 | 8.59 % | ||
| R1 | 0.400 | 8.05 % | ||
| Current price | 0.370 | |||
| Support | S1 | 0.366 | -1.13% | |
| S2 | 0.352 | -4.92% | ||
| S3 | 0 | . |
FAQ
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