High volatility in Tonix Pharmaceuticals stock price on Thursday which ended trading at $0.328
StockInvest.us, 3 weeks ago
The Tonix Pharmaceuticals stock price gained 2.66% on the last trading day (Thursday, 23rd Jan 2025), rising from $0.319 to $0.328. It has now gained 6 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 24.47% from a day low at $0.300 to a day high of $0.373. The price has risen in 7 of the last 10 days and is up by 13.68% over the past 2 weeks. Volume fell on the last day by -53 million shares and in total, 151 million shares were bought and sold for approximately $49.30 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.
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 lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.246 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 47.31% during the next 3 months and, with a 90% probability hold a price between $0.363 and $1.01 at the end of this 3-month period.
A sell signal was issued from a pivot top point on Friday, December 20, 2024, and so far it has fallen -46.45%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. The Tonix Pharmaceuticals stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.259 and $0.297. 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.
Tonix Pharmaceuticals finds support from accumulated volume at $0.319 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 $0.0734 between high and low, or 24.47%. For the last week, the stock has had daily average volatility of 18.74%.
Since the Tonix Pharmaceuticals has been rising for 6 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.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Check full Tonix Pharmaceuticals forecast and analysis here.