Salarius Pharmaceuticals Inc. Stock Forecast

Salarius Pharmaceuticals Inc. stock price took a fall of -5.03% on Thursday
(Updated on Apr 18, 2024)

SLRX 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 Salarius 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 $0.493 and $0.566. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 17, 2024, and so far it has fallen -5.03%. 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 Salarius Pharmaceuticals Inc. stock

Salarius Pharmaceuticals Inc. finds support from accumulated volume at $0.480 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0282 between high and low, or 5.82%. For the last week the stock has had daily average volatility of 8.91%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (SLRX) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Salarius Pharmaceuticals Inc. to open at $0.494, and during the day (based on 14 day Average True Range), to move between $0.423 and $0.547, which gives a possible trading interval of +/-$0.0618 (+/-12.75%) up or down from last closing price. If Salarius Pharmaceuticals Inc. takes out the full calculated possible swing range there will be an estimated 25.50% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.485 (0.04%) than the support at $0.480 (0.99%), 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 Salarius Pharmaceuticals Inc. stock A Buy?

Salarius 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -6.373 Strong Sell Candidate Downgraded

Predicted Opening Price for Salarius Pharmaceuticals Inc. of Friday, April 19, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.