High volatility in Tonix Pharmaceuticals stock price on Wednesday which ended trading at $0.365

The Tonix Pharmaceuticals stock price gained 9.25% on the last trading day (Wednesday, 18th Dec 2024), rising from $0.334 to $0.365. During the last trading day the stock fluctuated 25.17% from a day low at $0.350 to a day high of $0.438. The price has risen in 8 of the last 10 days and is up by 109.66% over the past 2 weeks. Volume fell on the last day by -658 million shares and in total, 299 million shares were bought and sold for approximately $109.25 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 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 28.85% during the next 3 months and, with a 90% probability hold a price between $0.223 and $0.688 at the end of this 3-month period.

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 $0.300 and $0.190. 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 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. 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 Monday, December 16, 2024, and so far it has fallen -31.17%. 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 $0.334.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 $0.0881 between high and low, or 25.17%. For the last week, the stock has had daily average volatility of 93.42%.

Several short-term signals, along with a general good trend, are positive and 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.