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
Noxopharm Limited stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Jun 26, 2024)
No changes to the price of Noxopharm Limited stock on the last trading day (Wednesday, 26th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0690 to a day high of $0.0690. The price has been going up and down for this period, and there has been a -1.43% loss for the last 2 weeks.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0690 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 17.92% during the next 3 months and, with a 90% probability hold a price between $0.0813 and $0.104 at the end of this 3-month period.
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NOX.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 2.99%. Further rise is indicated until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. 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. 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 $0.0707 and $0.0731. 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).
Support, Risk & Stop-loss for Noxopharm Limited stock
Noxopharm Limited finds support from accumulated volume at $0.0670 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 5.25%.
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 Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Noxopharm Limited to open at $0.0690, and during the day (based on 14 day Average True Range), to move between $0.0648 and $0.0732, which gives a possible trading interval of +/-$0.0042 (+/-6.10%) up or down from last closing price. If Noxopharm Limited takes out the full calculated possible swing range there will be an estimated 12.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0670 (2.90%) than the resistance at $0.0720 (4.35%), 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.401 Sell Candidate Downgraded
Predicted Opening Price for Noxopharm Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $0.0690 ( 0%) | $0.0690 |
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 | 0.0690 | - |
| R2 | 0.0690 | - |
| R1 | 0.0690 | - |
| Price | 0.0690 | |
| S1 | 0.0690 | - |
| S2 | 0.0690 | - |
| S3 | 0.0690 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0840 | 21.74% |
| R2 | 0.0780 | 13.04% |
| R1 | 0.0720 | 4.35% |
| Price | 0.0690 | |
| S1 | 0.0670 | -2.90% |
| S2 | 0.0630 | -8.70% |
| S3 | 0.0600 | -13.04% |
FAQ
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