Phio Pharmaceuticals Corp. Stock Forecast
Big movements in Phio Pharmaceuticals Corp. stock price on Wednesday moving 13.20% between high and low
(Updated on May 01, 2024)
The Phio Pharmaceuticals Corp. stock price gained 9.53% on the last trading day (Wednesday, 1st May 2024), rising from $0.695 to $0.761. During the last trading day the stock fluctuated 13.20% from a day low at $0.680 to a day high of $0.770. The price has been going up and down for this period, and there has been a 17.29% gain 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, 83 thousand more shares were traded than the day before. In total, 142 thousand shares were bought and sold for approximately $108.39 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.98% during the next 3 months and, with a 90% probability hold a price between $0.490 and $0.97 at the end of this 3-month period.
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PHIO Signals & Forecast
The Phio Pharmaceuticals Corp. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.699 and $0.749. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Phio Pharmaceuticals Corp. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, February 29, 2024, and so far it has fallen -29.52%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Phio Pharmaceuticals Corp. stock
Phio Pharmaceuticals Corp. finds support from accumulated volume at $0.760 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0898 between high and low, or 13.20%. For the last week, the stock has had daily average volatility of 7.12%.
Our recommended stop-loss: $0.716 (-5.90%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 43 days ago.)
Trading Expectations (PHIO) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Phio Pharmaceuticals Corp. to open at $0.737, and during the day (based on 14 day Average True Range), to move between $0.682 and $0.84, which gives a possible trading interval of +/-$0.0788 (+/-10.35%) up or down from last closing price. If Phio Pharmaceuticals Corp. takes out the full calculated possible swing range there will be an estimated 20.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.760 (0.16%) than the resistance at $0.83 (9.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Phio Pharmaceuticals Corp. will release earnings BMO on Thursday, May 09, 2024. We will update the financials statements for Phio Pharmaceuticals Corp., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.67% in the first trading day after earnings release.
Is Phio Pharmaceuticals Corp. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.157 Buy Candidate Upgraded
Predicted Opening Price for Phio Pharmaceuticals Corp. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $0.737 ( 3.16%) | $0.761 |
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 | 0.83 | 8.64 % | |
| R2 | 0.793 | 4.13 % | ||
| R1 | 0.771 | 1.34 % | ||
| Current price: | 0.761 | |||
| Support | S1 | 0.703 | -7.67 % | |
| S2 | 0.682 | -10.45 % | ||
| S3 | 0.647 | -14.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.92 | 20.47 % | |
| R2 | 0.85 | 11.66 % | ||
| R1 | 0.83 | 9.03 % | ||
| Current price | 0.761 | |||
| Support | S1 | 0.760 | -0.158% | |
| S2 | 0.725 | -4.77% | ||
| S3 | 0.700 | -8.04% |
FAQ
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