Nexien BioPharma, Inc. Stock Forecast
High volatility in Nexien BioPharma, Inc. stock price on Thursday which ended trading at $0.0163
(Updated on May 02, 2024)
The Nexien BioPharma, Inc. stock price fell by -41.37% on the last day (Thursday, 2nd May 2024) from $0.0278 to $0.0163. During the last trading day the stock fluctuated 50.86% from a day low at $0.0163 to a day high of $0.0246. The price has fallen in 6 of the last 10 days and is down by -18.95% for this period. Volume has increased on the last day by 48 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 50 thousand shares were bought and sold for approximately $819.50 .
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Nexien BioPharma, Inc. stock with a 90% probability to be traded between $0.0112 and $0.0301 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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NXEN Signals & Forecast
There are few to no technical positive signals at the moment. The Nexien BioPharma, 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 $0.0194 and $0.0212. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 01, 2024, and so far it has fallen -41.37%. 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). Nexien BioPharma, Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Thursday, March 14, 2024 with a target of $0.0170. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Nexien BioPharma, Inc. stock
Nexien BioPharma, Inc. finds support from accumulated volume at $0.0161 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 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 $0.0083 between high and low, or 50.86%. For the last week, the stock has had daily average volatility of 31.67%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NXEN) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Nexien BioPharma, Inc. to open at $0.0191, and during the day (based on 14 day Average True Range), to move between $0.0096 and $0.0230, which gives a possible trading interval of +/-$0.0067 (+/-41.33%) up or down from last closing price. If Nexien BioPharma, Inc. takes out the full calculated possible swing range there will be an estimated 82.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0161 (1.23%) than the resistance at $0.0169 (3.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Nexien BioPharma, Inc. stock A Buy?
Nexien BioPharma, 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Sell candidate.
Current score: -6.450 Strong Sell Candidate Downgraded
Predicted Opening Price for Nexien BioPharma, Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.0191 ( 16.95%) | $0.0163 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NXEN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0274 | 67.81 % | |
| R2 | 0.0242 | 48.38 % | ||
| R1 | 0.0222 | 36.38 % | ||
| Current price: | 0.0163 | |||
| Support | S1 | 0.0159 | -2.48 % | |
| S2 | 0.0139 | -14.48 % | ||
| S3 | 0.0108 | -33.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0201 | 23.37 % | |
| R2 | 0.0200 | 22.70 % | ||
| R1 | 0.0169 | 3.68 % | ||
| Current price | 0.0163 | |||
| Support | S1 | 0.0161 | -1.23% | |
| S2 | 0.0153 | -6.44% | ||
| S3 | 0.0150 | -7.98% |
FAQ
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