Tonix Pharmaceuticals Stock Forecast
Big movements in Tonix Pharmaceuticals stock price on Thursday moving 105.99% between high and low
(Updated on Mar 28, 2024)
The Tonix Pharmaceuticals stock price fell by -43.10% on the last day (Thursday, 28th Mar 2024) from $0.327 to $0.186. During the last trading day the stock fluctuated 105.99% from a day low at $0.167 to a day high of $0.344. The price has been going up and down for this period, and there has been a -44.03% loss for the last 2 weeks. Volume has increased on the last day by 20 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 21 million shares were bought and sold for approximately $3.92 million.
The stock has broken the very wide and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $0.275 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
TNXP Signals & Forecast
There are few to no technical positive signals at the moment. The Tonix Pharmaceuticals 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 $0.318 and $0.348. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 15, 2024, and so far it has fallen -51.81%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Tonix Pharmaceuticals 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 has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.177 between high and low, or 105.99%. For the last week, the stock has had daily average volatility of 28.90%.
Tonix Pharmaceuticals is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TNXP) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Tonix Pharmaceuticals Holding Corp. to open at $0.232, and during the day (based on 14 day Average True Range), to move between $0.146 and $0.226, which gives a possible trading interval of +/-$0.0395 (+/-21.26%) up or down from last closing price. If Tonix Pharmaceuticals Holding Corp. takes out the full calculated possible swing range there will be an estimated 42.51% move between the lowest and the highest trading price during the day.
Is Tonix Pharmaceuticals Holding Corp. stock A Buy?
Tonix Pharmaceuticals 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.556 Strong Sell Candidate Downgraded
Predicted Opening Price for Tonix Pharmaceuticals Holding Corp. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$0.232 ( 24.91%) | $0.186 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TNXP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.409 | 120.07 % | |
R2 | 0.342 | 83.72 % | ||
R1 | 0.300 | 61.26 % | ||
Current price: | 0.186 | |||
Support | S1 | 0.165 | -11.44 % | |
S2 | 0.123 | -33.90 % | ||
S3 | 0.0553 | -70.25 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 0.186 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
Click here for our free guide on how to buy Tonix Pharmaceuticals Stock.