Imunon, Inc. Stock Forecast
Red day on Friday for Imunon, Inc.
(Updated on Apr 26, 2024)
No changes to the price of Imunon, Inc. stock on the last trading day (Friday, 26th Apr 2024). During the last trading day the stock fluctuated 6.14% from a day low at $1.39 to a day high of $1.48. The price has fallen in 5 of the last 10 days and is down by -9.43% for this period.
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 $1.24 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 99.91% during the next 3 months and, with a 90% probability hold a price between $2.47 and $4.56 at the end of this 3-month period.
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IMNN Signals & Forecast
The Imunon, 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 $1.30 and $1.24. A breakdown below any of these levels will issue sell signals. 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 Monday, April 01, 2024, and so far it has fallen -25.39%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Imunon, Inc. stock
Imunon, Inc. finds support from accumulated volume at $1.40 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0854 between high and low, or 6.14%. For the last week the stock has had daily average volatility of 9.57%.
Our recommended stop-loss: $1.37 (-4.55%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (IMNN) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Imunon, Inc. to open at $1.44, and during the day (based on 14 day Average True Range), to move between $1.27 and $1.61, which gives a possible trading interval of +/-$0.167 (+/-11.57%) up or down from last closing price. If Imunon, Inc. takes out the full calculated possible swing range there will be an estimated 23.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.40 (2.78%) than the resistance at $1.63 (13.19%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Imunon, 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 Imunon, Inc. stock to perform well in the short-term.
Current score: 2.593 Buy Candidate Unchanged
Predicted Opening Price for Imunon, Inc. of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$1.44 ( 0.338%) | $1.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IMNN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.52 | 5.59 % | |
R2 | 1.49 | 3.33 % | ||
R1 | 1.47 | 1.93 % | ||
Current price: | 1.44 | |||
Support | S1 | 1.40 | -2.60 % | |
S2 | 1.38 | -4.00 % | ||
S3 | 1.35 | -6.27 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.75 | 21.53 % | |
R2 | 1.64 | 13.89 % | ||
R1 | 1.63 | 13.19 % | ||
Current price | 1.44 | |||
Support | S1 | 1.40 | -2.78% | |
S2 | 1.39 | -3.47% | ||
S3 | 1.14 | -20.83% |
FAQ
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