Pasithea Therapeutics Corp. Stock Forecast
Pasithea Therapeutics Corp. stock price up more than 8.62% on Monday
(Updated on Jun 17, 2024)
The Pasithea Therapeutics Corp. stock price gained 8.62% on the last trading day (Monday, 17th Jun 2024), rising from $0.0116 to $0.0126. During the last trading day the stock fluctuated 0% from a day low at $0.0126 to a day high of $0.0126. The price has risen in 6 of the last 10 days and is up by 3.28% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 10 thousand more shares were traded than the day before. In total, 10 thousand shares were bought and sold for approximately $126.01 .
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 $0.0117 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 9.67% during the next 3 months and, with a 90% probability hold a price between $0.0129 and $0.0209 at the end of this 3-month period.
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KTTAW Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 8.62%. 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). Pasithea Therapeutics Corp. 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 Pasithea Therapeutics Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.0142 and $0.0140. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Pasithea Therapeutics Corp. stock
Pasithea Therapeutics Corp. finds support from accumulated volume at $0.0125 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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 1.22%.
Our recommended stop-loss: $0.0121 (-4.04%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (KTTAW) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Pasithea Therapeutics Corp. to open at $0.0126, and during the day (based on 14 day Average True Range), to move between $0.0107 and $0.0145, which gives a possible trading interval of +/-$0.0019 (+/-15.18%) up or down from last closing price. If Pasithea Therapeutics Corp. takes out the full calculated possible swing range there will be an estimated 30.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0125 (0.79%) than the resistance at $0.0134 (6.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Pasithea Therapeutics Corp. stock A Buy?
Pasithea Therapeutics Corp. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Pasithea Therapeutics Corp. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $0.0126 ( 0%) | $0.0126 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KTTAW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0126 | - |
| R2 | 0.0126 | - |
| R1 | 0.0126 | - |
| Price | 0.0126 | |
| S1 | 0.0126 | - |
| S2 | 0.0126 | - |
| S3 | 0.0126 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0150 | 19.05% |
| R2 | 0.0140 | 11.11% |
| R1 | 0.0134 | 6.35% |
| Price | 0.0126 | |
| S1 | 0.0125 | -0.794% |
| S2 | 0.0123 | -2.38% |
| S3 | 0.0116 | -7.94% |
FAQ
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