60 Degrees Pharmaceuticals, Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Big movements in 60 Degrees Pharmaceuticals, Inc. stock price on Friday moving 15.68% between high and low
(Updated on May 17, 2024)
The 60 Degrees Pharmaceuticals, Inc. stock price gained 0.85% on the last trading day (Friday, 17th May 2024), rising from $0.223 to $0.225. During the last trading day the stock fluctuated 15.68% from a day low at $0.220 to a day high of $0.255. The price has fallen in 5 of the last 10 days but is still up by 7.1% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $283.32 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -23.68% during the next 3 months and, with a 90% probability hold a price between $0.146 and $0.191 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
A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 11.61%. 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). 60 Degrees Pharmaceuticals, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The 60 Degrees Pharmaceuticals, Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.244. On a fall, the stock will find some support from the short-term average at $0.222. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for 60 Degrees Pharmaceuticals, Inc. stock
60 Degrees Pharmaceuticals, Inc. finds support from accumulated volume at $0.219 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0345 between high and low, or 15.68%. For the last week, the stock has had daily average volatility of 11.54%.
Our recommended stop-loss: $0.216 (-4.12%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (SXTP) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect 60 Degrees Pharmaceuticals, Inc. to open at $0.233, and during the day (based on 14 day Average True Range), to move between $0.202 and $0.247, which gives a possible trading interval of +/-$0.0225 (+/-10.00%) 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 20.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.219 (2.76%) than the resistance at $0.232 (3.16%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is 60 Degrees Pharmaceuticals, Inc. stock A Buy?
60 Degrees Pharmaceuticals, 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.
Current score: -0.680 Hold/Accumulate Unchanged
Predicted Opening Price for 60 Degrees Pharmaceuticals, Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.233 ( 3.66%) | $0.225 |
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 | 0.268 | 19.00 % | |
| R2 | 0.254 | 13.14 % | ||
| R1 | 0.246 | 9.52 % | ||
| Current price: | 0.225 | |||
| Support | S1 | 0.220 | -2.20 % | |
| S2 | 0.212 | -5.82 % | ||
| S3 | 0.199 | -11.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.269 | 19.61 % | |
| R2 | 0.245 | 8.94 % | ||
| R1 | 0.232 | 3.16 % | ||
| Current price | 0.225 | |||
| Support | S1 | 0.219 | -2.76% | |
| S2 | 0.213 | -5.25% | ||
| S3 | 0.209 | -7.20% |
FAQ
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