NRx Pharmaceuticals, Inc. Stock Forecast
Volatile ride for NRx Pharmaceuticals, Inc. stock price on Friday moving between $3.20 and $3.64
(Updated on Apr 26, 2024)
The NRx Pharmaceuticals, Inc. stock price gained 12.74% on the last trading day (Friday, 26th Apr 2024), rising from $3.14 to $3.54. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 13.75% from a day low at $3.20 to a day high of $3.64. The price has been going up and down for this period, and there has been a -30.86% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 174 thousand more shares were traded than the day before. In total, 276 thousand shares were bought and sold for approximately $975.35 thousand.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $2.90 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect NRx Pharmaceuticals, Inc. stock with a 90% probability to be traded between $2.88 and $6.92 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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NRXP Signals & Forecast
There are mixed signals in the stock today. The NRx Pharmaceuticals, Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $4.69. On a fall, the stock will find some support from the short-term average at $3.13. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, March 06, 2024, and so far it has fallen -49.47%. 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). NRx Pharmaceuticals, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for NRx Pharmaceuticals, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.04 and $3.02. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, NRx Pharmaceuticals, Inc. finds support just below today's level at $3.04. If this is broken, then the next support from accumulated volume will be at $3.02 and $2.94.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.440 between high and low, or 13.75%. For the last week, the stock has had daily average volatility of 9.03%.
NRx Pharmaceuticals, Inc. is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
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 Monday 29th
For the upcoming trading day on Monday, 29th we expect NRx Pharmaceuticals, Inc. to open at $3.46, and during the day (based on 14 day Average True Range), to move between $3.01 and $4.07, which gives a possible trading interval of +/-$0.532 (+/-15.01%) up or down from last closing price. If NRx Pharmaceuticals, Inc. takes out the full calculated possible swing range there will be an estimated 30.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.04 (14.12%) than the resistance at $4.30 (21.47%), 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 we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.289 Sell Candidate Unchanged
Predicted Opening Price for NRx Pharmaceuticals, Inc. of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$3.46 ( 2.26%) | $3.54 |
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 | |||
---|---|---|---|---|
Resistance | R3 | 3.90 | 10.17 % | |
R2 | 3.73 | 5.42 % | ||
R1 | 3.63 | 2.49 % | ||
Current price: | 3.54 | |||
Support | S1 | 3.29 | -7.01 % | |
S2 | 3.19 | -9.94 % | ||
S3 | 3.02 | -14.69 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.39 | 24.12 % | |
R2 | 4.38 | 23.76 % | ||
R1 | 4.30 | 21.47 % | ||
Current price | 3.54 | |||
Support | S1 | 3.04 | -14.12% | |
S2 | 3.02 | -14.69% | ||
S3 | 2.94 | -16.95% |
FAQ
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