Avenue Therapeutics, Inc. Stock Forecast
Green day on Wednesday for Avenue Therapeutics, Inc.
(Updated on Mar 27, 2024)
The Avenue Therapeutics, Inc. stock price gained 1.06% on the last trading day (Wednesday, 27th Mar 2024), rising from $0.151 to $0.153. During the last trading day the stock fluctuated 4.86% from a day low at $0.148 to a day high of $0.155. The price has fallen in 5 of the last 10 days and is down by -9.65% for this period. Volume fell on the last day by -624 thousand shares and in total, 491 thousand shares were bought and sold for approximately $74.93 thousand. 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 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 -5.38% during the next 3 months and, with a 90% probability hold a price between $0.104 and $0.308 at the end of this 3-month period.
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ATXI Signals & Forecast
There are few to no technical positive signals at the moment. The Avenue Therapeutics, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.155 and $0.155. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, January 04, 2024, and so far it has fallen -55.42%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Avenue Therapeutics, Inc. stock
Avenue Therapeutics, Inc. finds support from accumulated volume at $0.150 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0072 between high and low, or 4.86%. For the last week the stock has had daily average volatility of 7.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ATXI) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Avenue Therapeutics, Inc. to open at $0.152, and during the day (based on 14 day Average True Range), to move between $0.137 and $0.168, which gives a possible trading interval of +/-$0.0155 (+/-10.14%) up or down from last closing price. If Avenue Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 20.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.150 (1.70%) than the resistance at $0.174 (13.83%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Avenue Therapeutics, Inc. stock A Buy?
Avenue Therapeutics, 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.
Current score: -5.143 Strong Sell Candidate Unchanged
Predicted Opening Price for Avenue Therapeutics, Inc. of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$0.152 ( 0.349%) | $0.153 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ATXI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.159 | 4.37 % | |
R2 | 0.157 | 2.57 % | ||
R1 | 0.155 | 1.45 % | ||
Current price: | 0.153 | |||
Support | S1 | 0.149 | -2.15 % | |
S2 | 0.148 | -3.27 % | ||
S3 | 0.145 | -5.07 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.190 | 24.18 % | |
R2 | 0.175 | 14.61 % | ||
R1 | 0.174 | 13.83 % | ||
Current price | 0.153 | |||
Support | S1 | 0.150 | -1.70% | |
S2 | 0.136 | -10.88% | ||
S3 | 0.120 | -21.36% |
FAQ
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