NervGen Pharma Corp. Stock Forecast
NervGen Pharma Corp. stock price ended at $1.53 on Wednesday, after losing 0%.
(Updated on May 22, 2024)
No changes to the price of NervGen Pharma Corp. stock on the last trading day (Wednesday, 22nd May 2024). During the last trading day the stock fluctuated 7.20% from a day low at $1.50 to a day high of $1.60. The price has been going up and down for this period, and there has been a 0.1% gain for the last 2 weeks.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -36.35% during the next 3 months and, with a 90% probability hold a price between $0.664 and $1.07 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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NGENF Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 6.88%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NervGen Pharma 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 $1.55 and $1.55. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for NervGen Pharma Corp. stock
NervGen Pharma Corp. finds support from accumulated volume at $1.52 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 $0.108 between high and low, or 7.20%. For the last week the stock has had daily average volatility of 8.56%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NGENF) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect NervGen Pharma Corp. to open at $1.54, and during the day (based on 14 day Average True Range), to move between $1.42 and $1.64, which gives a possible trading interval of +/-$0.105 (+/-6.87%) up or down from last closing price. If NervGen Pharma Corp. takes out the full calculated possible swing range there will be an estimated 13.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.52 (0.65%) than the resistance at $1.61 (5.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is NervGen Pharma Corp. stock A Buy?
NervGen Pharma Corp. 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.
Current score: -1.755 Sell Candidate Unchanged
Predicted Opening Price for NervGen Pharma Corp. of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| $1.54 ( 0.82%) | $1.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NGENF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.65 | 7.86 % | |
| R2 | 1.61 | 5.17 % | ||
| R1 | 1.58 | 3.51 % | ||
| Current price: | 1.53 | |||
| Support | S1 | 1.50 | -1.87 % | |
| S2 | 1.48 | -3.53 % | ||
| S3 | 1.43 | -6.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.67 | 9.15 % | |
| R2 | 1.62 | 5.88 % | ||
| R1 | 1.61 | 5.23 % | ||
| Current price | 1.53 | |||
| Support | S1 | 1.52 | -0.654% | |
| S2 | 1.50 | -1.96% | ||
| S3 | 1.45 | -5.23% |
FAQ
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