Volatile ride for Redhill Biopharma Ltd. stock price on Tuesday moving between $1.17 and $2.79

The Redhill Biopharma Ltd. stock price gained 128.00% on the last trading day (Tuesday, 28th Nov 2023), rising from $1.00 to $2.28. It 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 last trading day the stock fluctuated 138.46% from a day low at $1.17 to a day high of $2.79. The price has risen in 6 of the last 10 days and is up by 635.48% over the past 2 weeks. Volume fell on the last day by -44 million shares and in total, 147 million shares were bought and sold for approximately $334.41 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 stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.434, a level that may pose a second chance to hit a runner.

The Redhill Biopharma Ltd. 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 $0.699 and $0.468. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, November 10, 2023, and so far it has risen 643.88%. Further rise is indicated until a new top pivot has been found. 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.

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 $1.62 between high and low, or 138.46%. For the last week, the stock has had daily average volatility of 47.30%.

The Redhill Biopharma Ltd. stock is extremely overbought on RSI14 (97). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Redhill Biopharma Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.