60 Degrees Pharmaceuticals, Inc. Stock Forecast
Volatile ride for 60 Degrees Pharmaceuticals, Inc. stock price on Friday moving between $0.201 and $0.230
(Updated on May 03, 2024)
The 60 Degrees Pharmaceuticals, Inc. stock price fell by -9.48% on the last day (Friday, 3rd May 2024) from $0.232 to $0.210. During the last trading day the stock fluctuated 14.37% from a day low at $0.201 to a day high of $0.230. The price has fallen in 6 of the last 10 days and is down by -12.86% for this period. 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 -1 million shares and in total, 199 thousand shares were bought and sold for approximately $41.69 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.199 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -20.92% during the next 3 months and, with a 90% probability hold a price between $0.157 and $0.210 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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SXTP Signals & Forecast
There are few to no technical positive signals at the moment. The 60 Degrees 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 $0.232 and $0.256. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -27.34%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 60 Degrees Pharmaceuticals, Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0289 between high and low, or 14.37%. For the last week the stock has had daily average volatility of 9.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SXTP) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect 60 Degrees Pharmaceuticals, Inc. to open at $0.214, and during the day (based on 14 day Average True Range), to move between $0.188 and $0.232, which gives a possible trading interval of +/-$0.0216 (+/-10.28%) up or down from last closing price. If 60 Degrees Pharmaceuticals, Inc. takes out the full calculated possible swing range there will be an estimated 20.56% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.232, some $0.0220 (10.48%) from the current price of $0.210, our system finds the risk reward not very attractive.
Is 60 Degrees Pharmaceuticals, Inc. stock A Buy?
60 Degrees 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: -6.675 Strong Sell Candidate Downgraded
Predicted Opening Price for 60 Degrees Pharmaceuticals, Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.214 ( 1.76%) | $0.210 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SXTP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.243 | 15.52 % | |
| R2 | 0.232 | 10.27 % | ||
| R1 | 0.225 | 7.02 % | ||
| Current price: | 0.210 | |||
| Support | S1 | 0.203 | -3.50 % | |
| S2 | 0.196 | -6.74 % | ||
| S3 | 0.185 | -12.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.253 | 20.57 % | |
| R2 | 0.245 | 16.67 % | ||
| R1 | 0.232 | 10.48 % | ||
| Current price | 0.210 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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