Medexus Pharmaceuticals Inc. Stock Forecast
Medexus Pharmaceuticals Inc. stock downgraded from Buy Candidate to Sell Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Medexus Pharmaceuticals Inc. stock price fell by -1.59% on the last day (Tuesday, 25th Jun 2024) from $1.26 to $1.24. During the last trading day the stock fluctuated 0% from a day low at $1.24 to a day high of $1.24. The price has risen in 4 of the last 10 days and is up by 3.33% over the past 2 weeks. Volume has increased on the last day by 1 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 thousand shares were bought and sold for approximately $1.87 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Medexus Pharmaceuticals Inc. stock with a 90% probability to be traded between $1.08 and $1.43 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MEDXF Signals & Forecast
The Medexus Pharmaceuticals Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $1.19 and $1.20. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, June 24, 2024, and so far it has fallen -1.59%. Further fall is indicated until a new bottom pivot has been found. Medexus Pharmaceuticals Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Medexus Pharmaceuticals Inc. stock
Medexus Pharmaceuticals Inc. finds support from accumulated volume at $1.19 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 and with good trading volume, the risk is considered to be medium. 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 0%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MEDXF) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Medexus Pharmaceuticals Inc. to open at $1.24, and during the day (based on 14 day Average True Range), to move between $1.20 and $1.28, which gives a possible trading interval of +/-$0.0427 (+/-3.45%) up or down from last closing price. If Medexus Pharmaceuticals Inc. takes out the full calculated possible swing range there will be an estimated 6.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.26 (1.61%) than the support at $1.19 (4.03%), 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.
Is Medexus Pharmaceuticals Inc. stock A Buy?
Medexus Pharmaceuticals Inc. holds several negative signals and we believe that 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 Buy to a Sell candidate.
Current score: -1.210 Sell Candidate Downgraded
Predicted Opening Price for Medexus Pharmaceuticals Inc. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $1.24 ( 0%) | $1.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MEDXF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.24 | - |
| R2 | 1.24 | - |
| R1 | 1.24 | - |
| Price | 1.24 | |
| S1 | 1.24 | - |
| S2 | 1.24 | - |
| S3 | 1.24 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.45 | 16.94% |
| R2 | 1.26 | 1.81% |
| R1 | 1.26 | 1.61% |
| Price | 1.24 | |
| S1 | 1.19 | -4.03% |
| S2 | 1.18 | -4.84% |
| S3 | 1.14 | -8.06% |
FAQ
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