Shuttle Pharmaceuticals Holdings, Inc. Stock Forecast
Weaker technical forecast for Shuttle Pharmaceuticals Holdings, Inc. as stock downgraded to Hold/Accumulate.
(Updated on May 13, 2024)
The Shuttle Pharmaceuticals Holdings, Inc. stock price fell by -4.28% on the last day (Monday, 13th May 2024) from $0.418 to $0.400. During the last trading day the stock fluctuated 2.61% from a day low at $0.395 to a day high of $0.405. The price has been going up and down for this period, and there has been a 2.01% gain for the last 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 -13 thousand shares and in total, 7 thousand shares were bought and sold for approximately $2.99 thousand.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.389 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 5.48% during the next 3 months and, with a 90% probability hold a price between $0.411 and $0.505 at the end of this 3-month period.
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SHPH Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 3.92%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Shuttle Pharmaceuticals Holdings, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.414 and $0.412. A break-up above any of these levels will issue buy signals. 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 Shuttle Pharmaceuticals Holdings, Inc. stock
Shuttle Pharmaceuticals Holdings, Inc. finds support from accumulated volume at $0.400 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 $0.0103 between high and low, or 2.61%. For the last week the stock has had daily average volatility of 8.62%.
Our recommended stop-loss: $0.379 (-5.23%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (SHPH) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect Shuttle Pharmaceuticals Holdings, Inc. to open at $0.400, and during the day (based on 14 day Average True Range), to move between $0.369 and $0.431, which gives a possible trading interval of +/-$0.0310 (+/-7.74%) up or down from last closing price. If Shuttle Pharmaceuticals Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 15.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.400 (0.02%) than the resistance at $0.420 (4.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shuttle Pharmaceuticals Holdings, Inc. stock A Buy?
Shuttle Pharmaceuticals Holdings, Inc. 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. 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 Hold/Accumulate candidate.
Current score: 0.609 Hold/Accumulate Downgraded
Predicted Opening Price for Shuttle Pharmaceuticals Holdings, Inc. of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| $0.400 ( 0.0083%) | $0.400 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHPH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.410 | 2.58 % | |
| R2 | 0.406 | 1.60 % | ||
| R1 | 0.404 | 0.99 % | ||
| Current price: | 0.400 | |||
| Support | S1 | 0.396 | -0.98 % | |
| S2 | 0.394 | -1.58 % | ||
| S3 | 0.390 | -2.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.463 | 15.65 % | |
| R2 | 0.428 | 6.85 % | ||
| R1 | 0.420 | 4.97 % | ||
| Current price | 0.400 | |||
| Support | S1 | 0.400 | -0.0250% | |
| S2 | 0.390 | -2.45% | ||
| S3 | 0.367 | -8.20% |
FAQ
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