Avenue Therapeutics, Inc. Stock Forecast
Red day on Thursday for Avenue Therapeutics, Inc. stock after losing 0.370%
(Updated on Apr 18, 2024)
The Avenue Therapeutics, Inc. stock price fell by -0.370% on the last day (Thursday, 18th Apr 2024) from $0.135 to $0.135. During the last trading day the stock fluctuated 4.81% from a day low at $0.131 to a day high of $0.137. The price has been going up and down for this period, and there has been a -8.44% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -515 thousand shares and in total, 290 thousand shares were bought and sold for approximately $39.00 thousand.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.125 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 2.02% during the next 3 months and, with a 90% probability hold a price between $0.128 and $0.198 at the end of this 3-month period.
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ATXI Signals & Forecast
There are mixed signals in the stock today. The Avenue Therapeutics, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.136 and $0.154. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 7.68%. 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).
Support, Risk & Stop-loss for Avenue Therapeutics, Inc. stock
Avenue Therapeutics, Inc. finds support from accumulated volume at $0.135 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0063 between high and low, or 4.81%. For the last week the stock has had daily average volatility of 10.17%.
Our recommended stop-loss: $0.129 (-4.22%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (ATXI) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Avenue Therapeutics, Inc. to open at $0.134, and during the day (based on 14 day Average True Range), to move between $0.122 and $0.147, which gives a possible trading interval of +/-$0.0125 (+/-9.26%) up or down from last closing price. If Avenue Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 18.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.135 (0.07%) than the resistance at $0.150 (11.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Avenue Therapeutics, Inc. stock A Buy?
Avenue Therapeutics, 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.
Current score: -0.556 Hold/Accumulate Unchanged
Predicted Opening Price for Avenue Therapeutics, Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $0.134 ( 0.223%) | $0.135 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ATXI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.141 | 4.46 % | |
| R2 | 0.138 | 2.67 % | ||
| R1 | 0.137 | 1.57 % | ||
| Current price: | 0.135 | |||
| Support | S1 | 0.132 | -2.01 % | |
| S2 | 0.130 | -3.12 % | ||
| S3 | 0.128 | -4.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.162 | 20.36 % | |
| R2 | 0.155 | 15.16 % | ||
| R1 | 0.150 | 11.44 % | ||
| Current price | 0.135 | |||
| Support | S1 | 0.135 | -0.0743% | |
| S2 | 0.125 | -7.13% | ||
| S3 | 0.120 | -10.85% |
FAQ
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