Adial Pharmaceuticals Inc. Stock Forecast
Green day on Thursday for Adial Pharmaceuticals Inc. stock after gaining 1.70%
(Updated on May 02, 2024)
The Adial Pharmaceuticals Inc. stock price gained 1.70% on the last trading day (Thursday, 2nd May 2024), rising from $1.76 to $1.79. It 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 last trading day the stock fluctuated 8.88% from a day low at $1.76 to a day high of $1.92. The price has risen in 6 of the last 10 days but is still down by -17.51% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 121 thousand more shares were traded than the day before. In total, 243 thousand shares were bought and sold for approximately $435.24 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.32 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 22.23% during the next 3 months and, with a 90% probability hold a price between $1.61 and $4.57 at the end of this 3-month period.
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ADIL Signals & Forecast
The Adial Pharmaceuticals Inc. 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 $1.71 and $1.72. A breakdown below any of these levels will issue sell signals. Adial 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. Higher liquidity also reduces the general risk. 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, March 01, 2024, and so far it has fallen -45.09%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Adial Pharmaceuticals Inc. stock
Adial Pharmaceuticals Inc. finds support from accumulated volume at $1.75 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 $0.157 between high and low, or 8.88%. For the last week, the stock has had daily average volatility of 8.82%.
Our recommended stop-loss: $1.68 (-6.32%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 43 days ago.)
Trading Expectations (ADIL) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Adial Pharmaceuticals Inc. to open at $1.82, and during the day (based on 14 day Average True Range), to move between $1.49 and $2.09, which gives a possible trading interval of +/-$0.297 (+/-16.60%) up or down from last closing price. If Adial Pharmaceuticals Inc. takes out the full calculated possible swing range there will be an estimated 33.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.75 (2.23%) than the resistance at $1.90 (6.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Adial Pharmaceuticals Inc. stock A Buy?
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 Adial Pharmaceuticals Inc. stock to perform well in the short-term.
Current score: 1.307 Buy Candidate Unchanged
Predicted Opening Price for Adial Pharmaceuticals Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $1.82 ( 1.93%) | $1.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADIL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.98 | 10.67 % | |
| R2 | 1.92 | 7.33 % | ||
| R1 | 1.88 | 5.27 % | ||
| Current price: | 1.79 | |||
| Support | S1 | 1.76 | -1.42 % | |
| S2 | 1.73 | -3.48 % | ||
| S3 | 1.67 | -6.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.12 | 18.44 % | |
| R2 | 2.04 | 13.97 % | ||
| R1 | 1.90 | 6.15 % | ||
| Current price | 1.79 | |||
| Support | S1 | 1.75 | -2.23% | |
| S2 | 1.70 | -5.03% | ||
| S3 | 1.62 | -9.50% |
FAQ
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