Scinai Immunotherapeutics Ltd. Stock Forecast
High volatility in Scinai Immunotherapeutics Ltd. stock price on Monday which ended trading at $5.60
(Updated on Jun 17, 2024)
The Scinai Immunotherapeutics Ltd. stock price gained 60.46% on the last trading day (Monday, 17th Jun 2024), rising from $3.49 to $5.60. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 36.40% from a day low at $5.11 to a day high of $6.97. The price has been going up and down for this period, and there has been a 57.75% 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, 29 million more shares were traded than the day before. In total, 30 million shares were bought and sold for approximately $168.21 million.
Given the current short-term trend, the stock is expected to fall -24.55% during the next 3 months and, with a 90% probability hold a price between $1.96 and $4.23 at the end of this 3-month period. 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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SCNI Signals & Forecast
The Scinai Immunotherapeutics Ltd. 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 $3.31 and $3.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 108.18%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Scinai Immunotherapeutics Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $5.00 and $4.90. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Scinai Immunotherapeutics Ltd. finds support just below today's level at $5.00. If this is broken, then the next support from accumulated volume will be at $4.90 and $4.70.
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 $1.86 between high and low, or 36.40%. For the last week, the stock has had daily average volatility of 30.63%.
Our recommended stop-loss: $5.39 (-3.68%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (SCNI) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Scinai Immunotherapeutics Ltd. to open at $5.89, and during the day (based on 14 day Average True Range), to move between $4.82 and $6.38, which gives a possible trading interval of +/-$0.784 (+/-14.01%) up or down from last closing price. If Scinai Immunotherapeutics Ltd. takes out the full calculated possible swing range there will be an estimated 28.02% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $5.00, some $0.600 (10.71%) from the current price of $5.60, our system finds the risk reward attractive.
Is Scinai Immunotherapeutics Ltd. stock A Buy?
Scinai Immunotherapeutics Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Scinai Immunotherapeutics Ltd. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $5.89 ( 5.24%) | $5.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCNI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.75 | 38.45% |
| R2 | 7.04 | 25.76% |
| R1 | 6.60 | 17.93% |
| Price | 5.60 | |
| S1 | 5.18 | -7.45% |
| S2 | 4.74 | -15.29% |
| S3 | 4.03 | -27.98% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 5.60 | |
| S1 | 5.00 | -10.71% |
| S2 | 4.90 | -12.50% |
| S3 | 4.70 | -16.07% |
FAQ
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