Milestone Pharmaceuticals Inc. Stock Forecast
High volatility in Milestone Pharmaceuticals Inc. stock price on Tuesday which ended trading at $1.29
(Updated on Jun 25, 2024)
The Milestone Pharmaceuticals Inc. stock price fell by -7.19% on the last day (Tuesday, 25th Jun 2024) from $1.39 to $1.29. During the last trading day the stock fluctuated 13.93% from a day low at $1.22 to a day high of $1.39. The price has fallen in 6 of the last 10 days and is down by -11.64% for this period. Volume has increased on the last day by 110 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, 208 thousand shares were bought and sold for approximately $268.93 thousand.
The stock has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($1.29) are considered to be a "second chance" to get out. According to the fan-theory $0.96 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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MIST Signals & Forecast
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. The Milestone 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 $1.38 and $1.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 23, 2024, and so far it has fallen -26.29%. Further fall is indicated until a new bottom pivot has been found. Milestone 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".
Support, Risk & Stop-loss for Milestone Pharmaceuticals Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.170 between high and low, or 13.93%. For the last week, the stock has had daily average volatility of 5.93%.
Milestone Pharmaceuticals Inc. is oversold on RSI14 (7). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MIST) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Milestone Pharmaceuticals Inc. to open at $1.30, and during the day (based on 14 day Average True Range), to move between $1.22 and $1.36, which gives a possible trading interval of +/-$0.0730 (+/-5.66%) up or down from last closing price. If Milestone Pharmaceuticals Inc. takes out the full calculated possible swing range there will be an estimated 11.32% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $1.39, some $0.1000 (7.75%) from the current price of $1.29, our system finds the risk reward not very attractive.
Is Milestone Pharmaceuticals Inc. stock A Buy?
Milestone Pharmaceuticals Inc. 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 Sell to a Strong Sell candidate.
Current score: -7.532 Strong Sell Candidate Downgraded
Predicted Opening Price for Milestone Pharmaceuticals Inc. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $1.30 ( 0.775%) | $1.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MIST
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.47 | 13.95% |
| R2 | 1.41 | 8.92% |
| R1 | 1.36 | 5.81% |
| Price | 1.29 | |
| S1 | 1.24 | -4.26% |
| S2 | 1.19 | -7.37% |
| S3 | 1.13 | -12.40% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.56 | 20.93% |
| R2 | 1.54 | 19.38% |
| R1 | 1.39 | 7.75% |
| Price | 1.29 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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