Phio Pharmaceuticals Corp. Stock Forecast
Phio Pharmaceuticals Corp. stock price down 4.80% on Wednesday
(Updated on Jul 03, 2024)
The Phio Pharmaceuticals Corp. stock price fell by -4.80% on the last day (Wednesday, 3rd Jul 2024) from $0.610 to $0.581. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 5.74% from a day low at $0.570 to a day high of $0.603. The price has fallen in 6 of the last 10 days and is down by -18.53% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -104 thousand shares and in total, 129 thousand shares were bought and sold for approximately $74.73 thousand.
Given the current horizontal trend, you can expect Phio Pharmaceuticals Corp. stock with a 90% probability to be traded between $0.584 and $0.89 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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PHIO Signals & Forecast
There are few to no technical positive signals at the moment. 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 $0.667 and $0.730. 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 06, 2024, and so far it has fallen -33.95%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Phio Pharmaceuticals Corp. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0327 between high and low, or 5.74%. For the last week the stock has had daily average volatility of 10.36%.
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 Friday 5th
For the upcoming trading day on Friday, 5th we expect Phio Pharmaceuticals Corp. to open at $0.585, and during the day (based on 14 day Average True Range), to move between $0.524 and $0.637, which gives a possible trading interval of +/-$0.0564 (+/-9.71%) up or down from last closing price. If Phio Pharmaceuticals Corp. takes out the full calculated possible swing range there will be an estimated 19.42% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.610, some $0.0293 (5.04%) from the current price of $0.581, our system finds the risk reward not very attractive.
Is Phio Pharmaceuticals Corp. stock A Buy?
Phio Pharmaceuticals Corp. 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.
Current score: -3.938 Sell Candidate Unchanged
Predicted Opening Price for Phio Pharmaceuticals Corp. of Friday, July 5, 2024
Fair opening price July 5, 2024 | Current price |
---|---|
$0.585 ( 0.637%) | $0.581 |
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 | |
---|---|---|
R3 | 0.617 | 6.27% |
R2 | 0.605 | 4.12% |
R1 | 0.597 | 2.79% |
Price | 0.581 | |
S1 | 0.572 | -1.51% |
S2 | 0.564 | -2.84% |
S3 | 0.552 | -4.99% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.713 | 22.74% |
R2 | 0.700 | 20.52% |
R1 | 0.610 | 5.04% |
Price | 0.581 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
FAQ
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