Scilex Holding Company Stock Forecast
Scilex Holding Company stock price fell more than -21.02% Tuesday closing at $0.360
(Updated on Jun 25, 2024)
The Scilex Holding Company stock price fell by -21.02% on the last day (Tuesday, 25th Jun 2024) from $0.456 to $0.360. During the last trading day the stock fluctuated 0% from a day low at $0.360 to a day high of $0.360. The price has risen in 6 of the last 10 days and is up by 28.53% over the past 2 weeks. 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 -6 thousand shares and in total, 4 thousand shares were bought and sold for approximately $1.46 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Scilex Holding Company stock with a 90% probability to be traded between $0.216 and $0.490 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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SCLXW Signals & Forecast
The Scilex Holding Company stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.428. On a fall, the stock will find some support from the long-term average at approximately $0.299. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -25.31%. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Scilex Holding Company stock
Scilex Holding Company finds support from accumulated volume at $0.350 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 25.13%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SCLXW) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Scilex Holding Company to open at $0.360, and during the day (based on 14 day Average True Range), to move between $0.273 and $0.447, which gives a possible trading interval of +/-$0.0866 (+/-24.06%) up or down from last closing price. If Scilex Holding Company takes out the full calculated possible swing range there will be an estimated 48.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.366 (1.65%) than the support at $0.350 (2.78%), 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 Scilex Holding Company stock A Buy?
Scilex Holding Company 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -1.198 Sell Candidate Downgraded
Predicted Opening Price for Scilex Holding Company of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.360 ( 0.00000000%) | $0.360 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCLXW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.360 | 0.00000000% |
| R2 | 0.360 | 0.00000000% |
| R1 | 0.360 | 0.00000000% |
| Price | 0.360 | |
| S1 | 0.360 | 0.00000000% |
| S2 | 0.360 | 0.00000000% |
| S3 | 0.360 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.433 | 20.14% |
| R2 | 0.400 | 11.11% |
| R1 | 0.366 | 1.65% |
| Price | 0.360 | |
| S1 | 0.350 | -2.78% |
| S2 | 0.306 | -15.11% |
| S3 | 0.300 | -16.72% |
FAQ
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