Soligenix, Inc Stock Forecast
High volatility in Soligenix, Inc stock price on Thursday which ended trading at $0.427
(Updated on Apr 25, 2024)
The Soligenix, Inc stock price gained 11.49% on the last trading day (Thursday, 25th Apr 2024), rising from $0.383 to $0.427. During the last trading day the stock fluctuated 16.90% from a day low at $0.376 to a day high of $0.440. The price has fallen in 6 of the last 10 days but is still up by 9.85% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 187 thousand more shares were traded than the day before. In total, 677 thousand shares were bought and sold for approximately $289.19 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 -31.84% during the next 3 months and, with a 90% probability hold a price between $0.233 and $0.439 at the end of this 3-month period.
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SNGX Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Soligenix, Inc 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Soligenix, 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 $0.427 and $0.547. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 17, 2024, and so far it has fallen -16.27%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Soligenix, Inc stock
Soligenix, Inc finds support from accumulated volume at $0.406 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0636 between high and low, or 16.90%. For the last week, the stock has had daily average volatility of 9.72%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SNGX) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Soligenix, Inc to open at $0.414, and during the day (based on 14 day Average True Range), to move between $0.354 and $0.500, which gives a possible trading interval of +/-$0.0735 (+/-17.21%) up or down from last closing price. If Soligenix, Inc takes out the full calculated possible swing range there will be an estimated 34.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.435 (1.94%) than the support at $0.406 (4.96%), 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 Soligenix, Inc stock A Buy?
Soligenix, 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: -3.797 Sell Candidate Unchanged
Predicted Opening Price for Soligenix, Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.414 ( 2.94%) | $0.427 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SNGX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.478 | 11.96 % | |
| R2 | 0.454 | 6.27 % | ||
| R1 | 0.439 | 2.75 % | ||
| Current price: | 0.427 | |||
| Support | S1 | 0.390 | -8.62 % | |
| S2 | 0.375 | -12.14 % | ||
| S3 | 0.351 | -17.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.472 | 10.54 % | |
| R2 | 0.470 | 10.07 % | ||
| R1 | 0.435 | 1.94 % | ||
| Current price | 0.427 | |||
| Support | S1 | 0.406 | -4.96% | |
| S2 | 0.389 | -8.97% | ||
| S3 | 0.383 | -10.30% |
FAQ
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