Noxopharm Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Big movements in Noxopharm Limited stock price on Monday moving 11.94% between high and low
(Updated on Jun 17, 2024)
No changes to the price of Noxopharm Limited stock on the last trading day (Monday, 17th Jun 2024). During the last trading day the stock fluctuated 11.94% from a day low at $0.0670 to a day high of $0.0750. The price has fallen in 4 of the last 10 days and is down by -16.25% for this period.
The stock has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $0.0674. A reaction back to this level may hold a second chance to get out before further falls.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
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
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $0.0697 ( 3.98%) | $0.0670 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NOX.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0777 | 15.92% |
| R2 | 0.0746 | 11.36% |
| R1 | 0.0727 | 8.54% |
| Price | 0.0670 | |
| S1 | 0.0666 | -0.581% |
| S2 | 0.0647 | -3.40% |
| S3 | 0.0617 | -7.96% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0780 | 16.42% |
| R2 | 0.0720 | 7.46% |
| R1 | 0.0710 | 5.97% |
| Price | 0.0670 | |
| S1 | 0.0650 | -2.99% |
| S2 | 0.0630 | -5.97% |
| S3 | 0.0600 | -10.45% |
FAQ
Click here for our free guide on how to buy Noxopharm Limited Stock.
