Soligenix, Inc Stock Forecast

Weaker technical forecast for Soligenix, Inc as stock downgraded to Strong Sell Candidate.
(Updated on May 03, 2024)

SNGX Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. The Soligenix, 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 $0.407 and $0.493. 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 -20.69%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Soligenix, Inc stock

Soligenix, 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 may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0339 between high and low, or 8.56%. For the last week, the stock has had daily average volatility of 5.20%.

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

Trading Expectations (SNGX) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Soligenix, Inc to open at $0.410, and during the day (based on 14 day Average True Range), to move between $0.349 and $0.460, which gives a possible trading interval of +/-$0.0552 (+/-13.63%) up or down from last closing price. If Soligenix, Inc takes out the full calculated possible swing range there will be an estimated 27.27% 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 (1.11%) than the resistance at $0.435 (7.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Soligenix, Inc stock A Buy?

Soligenix, 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: -5.747 Strong Sell Candidate Downgraded

Predicted Opening Price for Soligenix, Inc of Monday, May 6, 2024

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