Noxopharm Limited Stock Forecast

Big movements in Noxopharm Limited stock price on Monday moving 11.94% between high and low
(Updated on Jun 17, 2024)

NOX.AX Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has fallen 0%. 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 Noxopharm Limited 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 $0.0734 and $0.0717. 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 Noxopharm Limited stock

Noxopharm Limited finds support from accumulated volume at $0.0650 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0080 between high and low, or 11.94%. For the last week the stock has had daily average volatility of 6.70%.

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

Trading Expectations (NOX.AX) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Noxopharm Limited to open at $0.0697, and during the day (based on 14 day Average True Range), to move between $0.0629 and $0.0711, which gives a possible trading interval of +/-$0.0041 (+/-6.14%) up or down from last closing price. If Noxopharm Limited takes out the full calculated possible swing range there will be an estimated 12.27% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0650 (2.99%) than the resistance at $0.0710 (5.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Noxopharm Limited stock A Buy?

The Noxopharm Limited stock holds several negative signals and despite the positive trend, we believe Noxopharm Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -4.433 Sell Candidate Unchanged

Predicted Opening Price for Noxopharm Limited of Tuesday, June 18, 2024

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