NRx Pharmaceuticals, Inc. Stock Forecast
Stronger technical forecast for NRx Pharmaceuticals, Inc. stock price after Monday trading.
(Updated on Jun 17, 2024)
The NRx Pharmaceuticals, Inc. stock price gained 1.32% on the last trading day (Monday, 17th Jun 2024), rising from $3.03 to $3.07. During the last trading day the stock fluctuated 4.93% from a day low at $3.04 to a day high of $3.19. The price has been going up and down for this period, and there has been a -20.67% loss for the last 2 weeks. Volume fell on the last day by -133 thousand shares and in total, 50 thousand shares were bought and sold for approximately $153.66 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a very 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 $3.42 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 -38.43% during the next 3 months and, with a 90% probability hold a price between $0.622 and $2.10 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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NRXP Signals & Forecast
There are few to no technical positive signals at the moment. The NRx Pharmaceuticals, Inc. 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 $3.23 and $3.29. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -24.38%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for NRx Pharmaceuticals, Inc. stock
NRx Pharmaceuticals, Inc. finds support from accumulated volume at $3.06 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 $0.150 between high and low, or 4.93%. For the last week the stock has had daily average volatility of 7.26%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NRXP) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect NRx Pharmaceuticals, Inc. to open at $3.10, and during the day (based on 14 day Average True Range), to move between $2.72 and $3.42, which gives a possible trading interval of +/-$0.348 (+/-11.32%) up or down from last closing price. If NRx Pharmaceuticals, Inc. takes out the full calculated possible swing range there will be an estimated 22.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.06 (0.33%) than the resistance at $3.52 (14.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is NRx Pharmaceuticals, Inc. stock A Buy?
NRx Pharmaceuticals, Inc. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.613 Sell Candidate Upgraded
Predicted Opening Price for NRx Pharmaceuticals, Inc. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $3.10 ( 0.98%) | $3.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NRXP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.25 | 5.86% |
| R2 | 3.19 | 4.00% |
| R1 | 3.16 | 2.84% |
| Price | 3.07 | |
| S1 | 3.04 | -0.89% |
| S2 | 3.01 | -2.04% |
| S3 | 2.95 | -3.91% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.55 | 15.64% |
| R2 | 3.54 | 15.31% |
| R1 | 3.52 | 14.66% |
| Price | 3.07 | |
| S1 | 3.06 | -0.326% |
| S2 | 2.81 | -8.47% |
| S3 | 2.58 | -15.96% |
FAQ
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