RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of MNOV
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MediciNova stock downgraded to Sell Candidate
(Updated on Mar 28, 2024)

Sell candidate since Mar 28, 2024 PDF

The MediciNova stock price fell by -1.36% on the last day (Thursday, 28th Mar 2024) from $1.47 to $1.45. During the last trading day the stock fluctuated 3.45% from a day low at $1.45 to a day high of $1.50. The price has fallen in 6 of the last 10 days but is still up by 6.62% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -201 thousand shares and in total, 56 thousand shares were bought and sold for approximately $81.67 thousand.

The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $1.47 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -12.24% during the next 3 months and, with a 90% probability hold a price between $1.05 and $1.29 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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MNOV Signals & Forecast

The MediciNova 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 $1.41 and $1.37. 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 Wednesday, March 27, 2024, and so far it has fallen -1.36%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for MediciNova stock

MediciNova finds support from accumulated volume at $1.38 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0500 between high and low, or 3.45%. For the last week the stock has had daily average volatility of 5.06%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (MNOV) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect MediciNova to open at $1.47, and during the day (based on 14 day Average True Range), to move between $1.38 and $1.52, which gives a possible trading interval of +/-$0.0742 (+/-5.11%) up or down from last closing price. If MediciNova takes out the full calculated possible swing range there will be an estimated 10.23% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $1.47 (1.38%) than the support at $1.38 (4.83%), 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 MediciNova stock A Buy?

MediciNova 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: -1.355 Sell Candidate Downgraded

Predicted Opening Price for MediciNova of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$1.47 ( 1.15%) $1.45

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for MNOV

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 1.52 4.60 %
R2 1.50 3.28 %
R1 1.49 2.47 %
Current price: 1.45
Support S1 1.45 -0.168 %
S2 1.44 -0.98 %
S3 1.42 -2.30 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 1.65 13.79 %
R2 1.50 3.45 %
R1 1.47 1.38 %
Current price 1.45
Support S1 1.38 -4.83%
S2 1.36 -6.21%
S3 1.35 -6.90%

FAQ

What is the symbol for MediciNova Stock and on which exchange is it traded?
The symbol for MediciNova is MNOV and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell MediciNova Stock?
MediciNova 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.

How to buy MediciNova Stock?
MediciNova Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy MediciNova Stock.

What's the current price of MediciNova Stock?
As of the end of day on the 2024-03-28, the price of an MediciNova (MNOV) share was $1.45.

What is the 52-week high and low for MediciNova Stock?
The 52-week high for MediciNova Stock is $2.66 and the 52-week low is $1.26.

What is the market capitalization of MediciNova Stock?
As of the 2024-03-28, the market capitalization of MediciNova is 71.117M.

When is the next earnings date for MediciNova?
The upcoming earnings date for MediciNova is May 09, 2024.
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About MediciNova

MediciNova MediciNova, Inc., a biopharmaceutical company, focuses on developing novel and small molecule therapeutics for the treatment of serious diseases with unmet medical needs in the United States. The company is developing MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective agent for treating neurological disorders, such as primary and secondary progressive multiple sclerosis, amyotrophic lateral sclerosis, chemotherapy-induced periphera... MNOV Profile

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