Big movements in Tonix Pharmaceuticals stock price on Thursday moving 125.00% between high and low

The Tonix Pharmaceuticals stock price gained 56.25% on the last trading day (Thursday, 19th Dec 2024), rising from $0.365 to $0.570. During the last trading day the stock fluctuated 125.00% from a day low at $0.320 to a day high of $0.720. The price has risen in 9 of the last 10 days and is up by 230.43% 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, 400 million more shares were traded than the day before. In total, 699 million shares were bought and sold for approximately $398.65 million.

On Jul 22, 2024, it was reported that Alliance Global Partners gave TNXP a "Buy" grade with a "hold" action.

The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $0.537, a level that may pose a second chance to hit a runner. According to fan-theory $0.90 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

Mostly positive signals in the chart today. The Tonix Pharmaceuticals stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.353 and $0.202. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, December 17, 2024, and so far it has risen 70.71%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

On the downside, the stock finds support just below today's level from accumulated volume at $0.530.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.

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 $0.400 between high and low, or 125.00%. For the last week, the stock has had daily average volatility of 113.58%.

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Tonix Pharmaceuticals stock to perform well in the short-term period.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.