Titan Pharmaceuticals Stock Forecast
Volatile ride for Titan Pharmaceuticals stock price on Monday moving between $7.12 and $8.49
(Updated on Mar 18, 2024)
The Titan Pharmaceuticals stock price fell by -21.10% on the last day (Monday, 18th Mar 2024) from $9.29 to $7.33. During the last trading day the stock fluctuated 19.22% from a day low at $7.12 to a day high of $8.49. The price has risen in 5 of the last 10 days but is still down by -4.18% 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 -13 thousand shares and in total, 14 thousand shares were bought and sold for approximately $105.08 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 483.82% during the next 3 months and, with a 90% probability hold a price between $39.03 and $55.00 at the end of this 3-month period.
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TTNP Signals & Forecast
The Titan 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 $7.78. On a fall, the stock will find some support from the long-term average at approximately $7.16. 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. 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 Friday, March 15, 2024, and so far it has fallen -21.10%. 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.
Support, Risk & Stop-loss for Titan Pharmaceuticals stock
Titan Pharmaceuticals finds support from accumulated volume at $7.26 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 $1.37 between high and low, or 19.22%. For the last week the stock has had daily average volatility of 11.33%.
Our recommended stop-loss: $6.88 (-6.16%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (TTNP) For The Upcoming Trading Day Of Tuesday 19th
For the upcoming trading day on Tuesday, 19th we expect Titan Pharmaceuticals to open at $7.65, and during the day (based on 14 day Average True Range), to move between $6.62 and $8.04, which gives a possible trading interval of +/-$0.707 (+/-9.64%) up or down from last closing price. If Titan Pharmaceuticals takes out the full calculated possible swing range there will be an estimated 19.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.26 (0.95%) than the resistance at $7.71 (5.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Titan Pharmaceuticals stock A Buy?
Titan Pharmaceuticals 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: 0.007 Hold/Accumulate Unchanged
Predicted Opening Price for Titan Pharmaceuticals of Tuesday, March 19, 2024
Fair opening price March 19, 2024 | Current price |
---|---|
$7.65 ( 4.33%) | $7.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TTNP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.02 | 23.00 % | |
R2 | 8.49 | 15.87 % | ||
R1 | 8.17 | 11.46 % | ||
Current price: | 7.33 | |||
Support | S1 | 7.12 | -2.81 % | |
S2 | 6.80 | -7.21 % | ||
S3 | 6.28 | -14.34 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.44 | 15.14 % | |
R2 | 8.00 | 9.14 % | ||
R1 | 7.71 | 5.18 % | ||
Current price | 7.33 | |||
Support | S1 | 7.26 | -0.95% | |
S2 | 7.15 | -2.52% | ||
S3 | 6.29 | -14.19% |
FAQ
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