Tonix Pharmaceuticals Stock Forecast
Big movements in Tonix Pharmaceuticals stock price on Tuesday moving 10.29% between high and low
(Updated on Jul 02, 2024)
The Tonix Pharmaceuticals stock price gained 0.683% on the last trading day (Tuesday, 2nd Jul 2024), rising from $0.732 to $0.737. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 10.29% from a day low at $0.680 to a day high of $0.750. The price has risen in 6 of the last 10 days but is still down by -34.2% for this period. Volume fell on the last day by -7 million shares and in total, 2 million shares were bought and sold for approximately $1.78 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.379 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 75.98% during the next 3 months and, with a 90% probability hold a price between $0.667 and $4.34 at the end of this 3-month period.
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TNXP Signals & Forecast
The Tonix Pharmaceuticals stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.92. On a fall, the stock will find some support from the long-term average at approximately $0.637. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, June 10, 2024, and so far it has fallen -66.65%. 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).
Support, Risk & Stop-loss for Tonix Pharmaceuticals stock
Tonix Pharmaceuticals finds support from accumulated volume at $0.732 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0700 between high and low, or 10.29%. For the last week, the stock has had daily average volatility of 12.67%.
Tonix Pharmaceuticals is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $0.692 (-6.14%) (This stock has very high daily movements and this gives very high risk. Low RSI14 is 18 which reduces the risk some. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (TNXP) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Tonix Pharmaceuticals Holding Corp. to open at $0.722, and during the day (based on 14 day Average True Range), to move between $0.547 and $0.93, which gives a possible trading interval of +/-$0.190 (+/-25.74%) up or down from last closing price. If Tonix Pharmaceuticals Holding Corp. takes out the full calculated possible swing range there will be an estimated 51.49% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.732, some $0.0050 (0.68%) from the current price of $0.737, our system finds the risk reward attractive.
Is Tonix Pharmaceuticals Holding Corp. stock A Buy?
Tonix Pharmaceuticals holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.883 Hold/Accumulate Downgraded
Predicted Opening Price for Tonix Pharmaceuticals Holding Corp. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.722 ( 1.99%) | $0.737 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TNXP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.792 | 7.51% |
| R2 | 0.766 | 3.88% |
| R1 | 0.749 | 1.64% |
| Price | 0.737 | |
| S1 | 0.696 | -5.62% |
| S2 | 0.679 | -7.86% |
| S3 | 0.652 | -11.49% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.737 | |
| S1 | 0.732 | -0.678% |
| S2 | 0.697 | -5.37% |
| S3 | 0.690 | -6.38% |
FAQ
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