Big movements in Tonix Pharmaceuticals stock price on Tuesday moving 59.73% between high and low

StockInvest.us, 2 weeks ago

Tonix Pharmaceuticals

The Tonix Pharmaceuticals stock price gained 11.65% on the last trading day (Tuesday, 28th Jan 2025), rising from $0.412 to $0.460. It has now gained 9 days in a row. It is not often that stock manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 59.73% from a day low at $0.365 to a day high of $0.583. The price has risen in 9 of the last 10 days and is up by 79.45% 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, 275 million more shares were traded than the day before. In total, 369 million shares were bought and sold for approximately $169.96 million.

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

The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 54.23% during the next 3 months and, with a 90% probability hold a price between $0.400 and $1.09 at the end of this 3-month period.

Tonix Pharmaceuticals

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 $0.339 and $0.317. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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, December 20, 2024, and so far it has fallen -24.77%. Further fall is indicated until a new bottom pivot has been found.

On the downside, the stock finds support just below today's level from accumulated volume at $0.403 and $0.383.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, Tonix Pharmaceuticals finds support just below today's level at $0.403. If this is broken, then the next support from accumulated volume will be at $0.383 and $0.365.

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 $0.218 between high and low, or 59.73%. For the last week, the stock has had daily average volatility of 31.92%.

Since the Tonix Pharmaceuticals has been rising for 9 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Tonix Pharmaceuticals holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Check full Tonix Pharmaceuticals forecast and analysis here.