Sunshine Biopharma, Inc. Stock Forecast
High volatility in Sunshine Biopharma, Inc. stock price on Thursday which ended trading at $0.0605
(Updated on Mar 28, 2024)
The Sunshine Biopharma, Inc. stock price gained 6.14% on the last trading day (Thursday, 28th Mar 2024), rising from $0.0570 to $0.0605. During the last trading day the stock fluctuated 10.53% from a day low at $0.0570 to a day high of $0.0630. The price has been going up and down for this period, and there has been a 21% 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, 1 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $197.16 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.0074, a level that may pose a second chance to hit a runner. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SBFM Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Sunshine Biopharma, Inc. 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. The Sunshine Biopharma, Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.0716. On a fall, the stock will find some support from the short-term average at $0.0582. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, March 05, 2024, and so far it has fallen -27.63%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Sunshine Biopharma, Inc. stock
Sunshine Biopharma, Inc. finds support from accumulated volume at $0.0600 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 $0.0060 between high and low, or 10.53%. For the last week, the stock has had daily average volatility of 8.27%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SBFM) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Sunshine Biopharma, Inc. to open at $0.0602, and during the day (based on 14 day Average True Range), to move between $0.0491 and $0.0719, which gives a possible trading interval of +/-$0.0114 (+/-18.78%) up or down from last closing price. If Sunshine Biopharma, Inc. takes out the full calculated possible swing range there will be an estimated 37.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0607 (0.33%) than the support at $0.0600 (0.83%), 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 Sunshine Biopharma, Inc. stock A Buy?
Sunshine Biopharma, Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.453 Sell Candidate Unchanged
Predicted Opening Price for Sunshine Biopharma, Inc. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$0.0602 ( 0.551%) | $0.0605 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SBFM
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0662 | 9.37 % | |
R2 | 0.0639 | 5.58 % | ||
R1 | 0.0625 | 3.24 % | ||
Current price: | 0.0605 | |||
Support | S1 | 0.0579 | -4.34 % | |
S2 | 0.0565 | -6.68 % | ||
S3 | 0.0542 | -10.47 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0688 | 13.72 % | |
R2 | 0.0660 | 9.09 % | ||
R1 | 0.0607 | 0.331 % | ||
Current price | 0.0605 | |||
Support | S1 | 0.0600 | -0.83% | |
S2 | 0.0599 | -0.99% | ||
S3 | 0.0554 | -8.43% |
FAQ
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