Acurx Pharmaceuticals, Inc. Stock Forecast

Evaluation of Acurx Pharmaceuticals, Inc. stock downgraded after the last trading session.
(Updated on May 03, 2024)

ACXP Signals & Forecast

The Acurx Pharmaceuticals, 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 $2.13 and $2.07. 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). Acurx Pharmaceuticals, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Tuesday, April 30, 2024, and so far it has fallen -1.36%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Acurx Pharmaceuticals, Inc. stock

Acurx Pharmaceuticals, Inc. finds support from accumulated volume at $2.11 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 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 $0.0759 between high and low, or 3.56%. For the last week, the stock has had daily average volatility of 8.91%.

The Acurx Pharmaceuticals, Inc. stock is extremely overbought on RSI14 (76). 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.

Our recommended stop-loss: $2.08 (-3.94%) (This stock has high daily movements and this gives high risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (ACXP) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Acurx Pharmaceuticals, Inc. to open at $2.17, and during the day (based on 14 day Average True Range), to move between $2.00 and $2.34, which gives a possible trading interval of +/-$0.175 (+/-8.05%) up or down from last closing price. If Acurx Pharmaceuticals, Inc. takes out the full calculated possible swing range there will be an estimated 16.10% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $2.11 (2.76%) than the resistance at $2.33 (7.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Acurx Pharmaceuticals, Inc. stock A Buy?

Acurx Pharmaceuticals, 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 Buy to a Hold/Accumulate candidate.

Current score: 0.548 Hold/Accumulate Downgraded

Predicted Opening Price for Acurx Pharmaceuticals, Inc. of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.