Provectus Pharmaceuticals, Inc Stock Forecast

Provectus Pharmaceuticals, Inc stock downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on Apr 22, 2024)

PVCT Signals & Forecast

The Provectus Pharmaceuticals, Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.184 and $0.186. A breakdown below any of these levels will issue sell signals. 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 Friday, March 15, 2024, and so far it has fallen -10.17%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

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

On the downside, the stock finds support just below today's level from accumulated volume at $0.180 and $0.170. 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, Provectus Pharmaceuticals, Inc finds support just below today's level at $0.180. If this is broken, then the next support from accumulated volume will be at $0.170 and $0.169.

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 $0.0029 between high and low, or 1.50%. For the last week the stock has had daily average volatility of 12.15%.

Our recommended stop-loss: $0.185 (-4.84%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 25 days ago.)

Trading Expectations (PVCT) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Provectus Pharmaceuticals, Inc to open at $0.194, and during the day (based on 14 day Average True Range), to move between $0.177 and $0.213, which gives a possible trading interval of +/-$0.0181 (+/-9.30%) up or down from last closing price. If Provectus Pharmaceuticals, Inc takes out the full calculated possible swing range there will be an estimated 18.61% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.199 (2.03%) than the support at $0.180 (7.65%), 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 Provectus Pharmaceuticals, Inc stock A Buy?

Provectus Pharmaceuticals, 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: 0.799 Hold/Accumulate Downgraded

Predicted Opening Price for Provectus Pharmaceuticals, Inc of Tuesday, April 23, 2024

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