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High volatility in Sunshine Biopharma, Inc. stock price on Wednesday which ended trading at $6.27

StockInvest.us, 1 month ago

Sunshine Biopharma, Inc.

The Sunshine Biopharma, Inc. stock price gained 11.69% on the last trading day (Wednesday, 6th Apr 2022), rising from $5.61 to $6.27. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 53.04% from a day low at $5.16 to a day high of $7.89. The price has been going up and down for this period, and there has been a 117.56% gain for the last 2 weeks. Volume fell on the last day by -80 million shares and in total, 74 million shares were bought and sold for approximately $461.13 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

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 48.66% during the next 3 months and, with a 90% probability hold a price between $3.55 and $17.37 at the end of this 3-month period.

Sunshine Biopharma, Inc.

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, February 14, 2022, and so far it has fallen -33.52%. 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). The Sunshine Biopharma, Inc. 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 $3.40 and $2.63. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

On the downside, the stock finds support just below today's level from accumulated volume at $5.61.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0 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 $2.73 between high and low, or 53.04%. For the last week, the stock has had a daily average volatility of 24.08%.

Sunshine Biopharma, Inc. 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.

Check full Sunshine Biopharma, Inc. forecast and analysis here.