Citius Pharmaceuticals Inc Stock Forecast
Citius Pharmaceuticals Inc stock price down 0.283% on Friday
(Updated on May 03, 2024)
The Citius Pharmaceuticals Inc stock price fell by -0.283% on the last day (Friday, 3rd May 2024) from $0.707 to $0.705. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 6.09% from a day low at $0.688 to a day high of $0.730. The price has fallen in 6 of the last 10 days and is down by -6.55% for this period. 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 -864 thousand shares and in total, 662 thousand shares were bought and sold for approximately $466.95 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 $0.672 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 9.57% during the next 3 months and, with a 90% probability hold a price between $0.737 and $1.17 at the end of this 3-month period.
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CTXR Signals & Forecast
There are few to no technical positive signals at the moment. The Citius Pharmaceuticals 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 $0.711 and $0.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -31.55%. 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). 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.
Support, Risk & Stop-loss for Citius Pharmaceuticals Inc stock
Citius Pharmaceuticals Inc finds support from accumulated volume at $0.694 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0419 between high and low, or 6.09%. For the last week the stock has had daily average volatility of 7.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CTXR) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Citius Pharmaceuticals Inc to open at $0.708, and during the day (based on 14 day Average True Range), to move between $0.631 and $0.779, which gives a possible trading interval of +/-$0.0736 (+/-10.44%) up or down from last closing price. If Citius Pharmaceuticals Inc takes out the full calculated possible swing range there will be an estimated 20.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.707 (0.28%) than the support at $0.694 (1.52%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Citius Pharmaceuticals Inc will release earnings BMO on Friday, May 10, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0600. We will update the financials statements for Citius Pharmaceuticals Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.57% in the first trading day after earnings release.
Is Citius Pharmaceuticals Inc stock A Buy?
The Citius Pharmaceuticals Inc stock holds several negative signals and despite the positive trend, we believe Citius Pharmaceuticals Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.554 Sell Candidate Unchanged
Predicted Opening Price for Citius Pharmaceuticals Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.708 ( 0.383%) | $0.705 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTXR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.750 | 6.33 % | |
| R2 | 0.734 | 4.06 % | ||
| R1 | 0.724 | 2.65 % | ||
| Current price: | 0.705 | |||
| Support | S1 | 0.692 | -1.89 % | |
| S2 | 0.682 | -3.29 % | ||
| S3 | 0.666 | -5.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.81 | 14.26 % | |
| R2 | 0.754 | 7.01 % | ||
| R1 | 0.707 | 0.284 % | ||
| Current price | 0.705 | |||
| Support | S1 | 0.694 | -1.52% | |
| S2 | 0.665 | -5.70% | ||
| S3 | 0.612 | -13.23% |
FAQ
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