High volatility in Tonix Pharmaceuticals stock price on Wednesday which ended trading at $0.430
StockInvest.us, 1 week ago
The Tonix Pharmaceuticals stock price fell by -6.54% on the last day (Wednesday, 29th Jan 2025) from $0.460 to $0.430. During the last trading day the stock fluctuated 43.42% from a day low at $0.380 to a day high of $0.545. The price has risen in 9 of the last 10 days and is up by 89.34% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -228 million shares and in total, 141 million shares were bought and sold for approximately $60.80 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 56.33% during the next 3 months and, with a 90% probability hold a price between $0.414 and $1.12 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 $0.367 and $0.324. 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). 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 -29.69%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
On the downside, the stock finds support just below today's level from accumulated volume at $0.403 and $0.365.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 $0.365 and $0.334.
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 $0.165 between high and low, or 43.42%. For the last week, the stock has had daily average volatility of 32.91%.
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.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Check full Tonix Pharmaceuticals forecast and analysis here.