INNOVATION PHARMACEUTICAL Stock Forecast
Volatile ride for INNOVATION PHARMACEUTICAL stock price on Friday moving between $0.0007 and $0.0008
(Updated on May 10, 2024)
The INNOVATION PHARMACEUTICAL stock price gained 14.29% on the last trading day (Friday, 10th May 2024), rising from $0.0007 to $0.0008. During the last trading day the stock fluctuated 14.29% from a day low at $0.0007 to a day high of $0.0008. The price has fallen in 4 of the last 10 days and is down by -73.33% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 14 thousand more shares were traded than the day before. In total, 15 thousand shares were bought and sold for approximately $12.00 .
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.00000562 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -27.74% during the next 3 months and, with a 90% probability hold a price between $0.00000406 and $0.0115 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
IPIX Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). INNOVATION PHARMACEUTICAL 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. The INNOVATION PHARMACEUTICAL 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 $0.0010 and $0.0082. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 16, 2024, and so far it has fallen -95.48%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for INNOVATION PHARMACEUTICAL stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0007. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
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 $0.0001 between high and low, or 14.29%. For the last week, the stock has had daily average volatility of 100.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IPIX) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect INNOVATION PHARMACEUTICAL to open at $0.0008, and during the day (based on 14 day Average True Range), to move between -$0.0011 and $0.0027, which gives a possible trading interval of +/-$0.0019 (+/-239.46%) up or down from last closing price. If INNOVATION PHARMACEUTICAL takes out the full calculated possible swing range there will be an estimated 478.91% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.0007, some $0.0001 (12.50%) from the current price of $0.0008, our system finds the risk reward attractive.
Is INNOVATION PHARMACEUTICAL stock A Buy?
INNOVATION PHARMACEUTICAL holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -7.238 Strong Sell Candidate Downgraded
Predicted Opening Price for INNOVATION PHARMACEUTICAL of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $0.0008 ( 4.17%) | $0.0008 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IPIX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0009 | 8.33 % | |
| R2 | 0.0008 | 3.56 % | ||
| R1 | 0.0008 | 0.608 % | ||
| Current price: | 0.0008 | |||
| Support | S1 | 0.0007 | -8.94 % | |
| S2 | 0.0007 | -11.89 % | ||
| S3 | 0.0007 | -16.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.0008 | |||
| Support | S1 | 0.0007 | -12.50% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy INNOVATION PHARMACEUTICAL Stock.
