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Volatile ride for Sunshine Biopharma, Inc. stock price on Thursday moving between $7.00 and $9.87

StockInvest.us, 1 month ago

Sunshine Biopharma, Inc.

The Sunshine Biopharma, Inc. stock price gained 54.01% on the last trading day (Thursday, 7th Apr 2022), rising from $6.27 to $9.65. , and has now gained 4 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 41.00% from a day low at $7.00 to a day high of $9.87. The price has been going up and down for this period, and there has been a 231.62% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 24 million more shares were traded than the day before. In total, 97 million shares were bought and sold for approximately $937.42 million.

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 56.59% during the next 3 months and, with a 90% probability hold a price between $4.84 and $18.90 at the end of this 3-month period.

Sunshine Biopharma, Inc.

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 $4.42 and $2.84. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 08, 2022, and so far it has risen 534.87%. 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 is rising along with the price. This is considered to be a good technical signal.

Sunshine Biopharma, Inc. finds support from accumulated volume at $9.43 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 $2.87 between high and low, or 41.00%. For the last week, the stock has had a daily average volatility of 29.72%.

The Sunshine Biopharma, Inc. stock is extremely overbought on RSI14 (86). This increases the short-term risk substantially.

Sunshine Biopharma, Inc. 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.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 Hold/Accumulate candidate.

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