Volatile ride for Tonix Pharmaceuticals stock price on Wednesday moving between $0.182 and $0.276

The Tonix Pharmaceuticals stock price gained 16.78% on the last trading day (Wednesday, 20th Nov 2024), rising from $0.163 to $0.190. 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 51.65% from a day low at $0.182 to a day high of $0.276. The price has been going up and down for this period, and there has been a 35.71% 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, 623 million more shares were traded than the day before. In total, 655 million shares were bought and sold for approximately $124.36 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 falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -28.60% during the next 3 months and, with a 90% probability hold a price between $0.0488 and $0.193 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, 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 $0.149 and $0.152. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, October 03, 2024, and so far it has risen 50.79%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $0.179 and $0.165.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 $0.179. If this is broken, then the next support from accumulated volume will be at $0.165 and $0.146.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0941 between high and low, or 51.65%. For the last week, the stock has had daily average volatility of 20.53%.

Tonix Pharmaceuticals holds several positive signals and despite the stock being in a falling trend, we considered it to be a good choice at these current levels. We expect Tonix Pharmaceuticals stock will perform very well in the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.