PMV Pharmaceuticals Inc. Stock Forecast
Red day on Wednesday for PMV Pharmaceuticals Inc. stock after losing 0.637%
(Updated on Jul 03, 2024)
The PMV Pharmaceuticals Inc. stock price fell by -0.637% on the last day (Wednesday, 3rd Jul 2024) from $1.57 to $1.56. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 3.23% from a day low at $1.55 to a day high of $1.60. The price has fallen in 7 of the last 10 days and is down by -3.11% 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 -205 thousand shares and in total, 151 thousand shares were bought and sold for approximately $235.37 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.47 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.05% during the next 3 months and, with a 90% probability hold a price between $1.44 and $2.14 at the end of this 3-month period.
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PMVP 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 PMV Pharmaceuticals 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 $1.62 and $1.80. 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 20, 2024, and so far it has fallen -29.41%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for PMV Pharmaceuticals Inc. stock
PMV Pharmaceuticals Inc. finds support from accumulated volume at $1.51 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0500 between high and low, or 3.23%. For the last week the stock has had daily average volatility of 5.55%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PMVP) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect PMV Pharmaceuticals Inc. to open at $1.57, and during the day (based on 14 day Average True Range), to move between $1.47 and $1.65, which gives a possible trading interval of +/-$0.0906 (+/-5.81%) up or down from last closing price. If PMV Pharmaceuticals Inc. takes out the full calculated possible swing range there will be an estimated 11.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.58 (1.28%) than the support at $1.51 (3.21%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is PMV Pharmaceuticals Inc. stock A Buy?
PMV Pharmaceuticals 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.
Current score: -1.586 Sell Candidate Unchanged
Predicted Opening Price for PMV Pharmaceuticals Inc. of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $1.57 ( 0.641%) | $1.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PMVP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.62 | 3.85% |
| R2 | 1.60 | 2.62% |
| R1 | 1.59 | 1.87% |
| Price | 1.56 | |
| S1 | 1.55 | -0.583% |
| S2 | 1.54 | -1.34% |
| S3 | 1.52 | -2.56% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.79 | 14.74% |
| R2 | 1.62 | 3.85% |
| R1 | 1.58 | 1.28% |
| Price | 1.56 | |
| S1 | 1.51 | -3.21% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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