Phio Pharmaceuticals Corp. Stock Forecast
Green day on Friday for Phio Pharmaceuticals Corp.
(Updated on Apr 19, 2024)
The Phio Pharmaceuticals Corp. stock price gained 0.329% on the last trading day (Friday, 19th Apr 2024), rising from $0.638 to $0.640. During the last trading day the stock fluctuated 5.35% from a day low at $0.617 to a day high of $0.650. The price has fallen in 6 of the last 10 days and is down by -7.13% for this period. Volume fell on the last day by -33 thousand shares and in total, 28 thousand shares were bought and sold for approximately $18.13 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 in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.637 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 8.90% during the next 3 months and, with a 90% probability hold a price between $0.693 and $1.23 at the end of this 3-month period.
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PHIO Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Phio Pharmaceuticals Corp. 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 $0.660 and $0.798. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 29, 2024, and so far it has fallen -40.75%. Further fall is indicated until a new bottom pivot has been found. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Phio Pharmaceuticals Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.600 and $0.594. 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, Phio Pharmaceuticals Corp. finds support just below today's level at $0.600. If this is broken, then the next support from accumulated volume will be at $0.594 and $0.550.
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 $0.0330 between high and low, or 5.35%. For the last week the stock has had daily average volatility of 4.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PHIO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Phio Pharmaceuticals Corp. to open at $0.636, and during the day (based on 14 day Average True Range), to move between $0.579 and $0.701, which gives a possible trading interval of +/-$0.0608 (+/-9.50%) up or down from last closing price. If Phio Pharmaceuticals Corp. takes out the full calculated possible swing range there will be an estimated 19.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.600 (6.24%) than the resistance at $0.689 (7.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Phio Pharmaceuticals Corp. stock A Buy?
The Phio Pharmaceuticals Corp. stock holds several negative signals and despite the positive trend, we believe Phio Pharmaceuticals Corp. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.613 Sell Candidate Unchanged
Predicted Opening Price for Phio Pharmaceuticals Corp. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $0.636 ( 0.667%) | $0.640 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PHIO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.669 | 4.49 % | |
| R2 | 0.656 | 2.52 % | ||
| R1 | 0.648 | 1.30 % | ||
| Current price: | 0.640 | |||
| Support | S1 | 0.623 | -2.64 % | |
| S2 | 0.615 | -3.85 % | ||
| S3 | 0.603 | -5.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.760 | 18.77 % | |
| R2 | 0.725 | 13.28 % | ||
| R1 | 0.689 | 7.67 % | ||
| Current price | 0.640 | |||
| Support | S1 | 0.600 | -6.24% | |
| S2 | 0.594 | -7.17% | ||
| S3 | 0.550 | -14.03% |
FAQ
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