NanoViricides, Inc Stock Forecast
NanoViricides, Inc stock price up 2.65% on Thursday
(Updated on Mar 28, 2024)
The NanoViricides, Inc stock price gained 2.65% on the last trading day (Thursday, 28th Mar 2024), rising from $1.13 to $1.16. During the last trading day the stock fluctuated 4.91% from a day low at $1.12 to a day high of $1.18. The price has fallen in 4 of the last 10 days and is down by -0.85% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 17 thousand more shares were traded than the day before. In total, 23 thousand shares were bought and sold for approximately $26.90 thousand.
The stock lies in the lower part of a 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 $1.14 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 11.47% during the next 3 months and, with a 90% probability hold a price between $1.27 and $1.56 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
NNVC Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, March 08, 2024, and so far it has risen 4.50%. 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). NanoViricides, 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NanoViricides, 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 $1.19. On a fall, the stock will find some support from the short-term average at $1.14. 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 NanoViricides, Inc stock
NanoViricides, Inc finds support from accumulated volume at $1.14 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 $0.0550 between high and low, or 4.91%. For the last week, the stock has had daily average volatility of 3.12%.
Our recommended stop-loss: $1.10 (-5.22%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (NNVC) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect NanoViricides, Inc to open at $1.15, and during the day (based on 14 day Average True Range), to move between $1.11 and $1.21, which gives a possible trading interval of +/-$0.0520 (+/-4.49%) up or down from last closing price. If NanoViricides, Inc takes out the full calculated possible swing range there will be an estimated 8.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.17 (0.86%) than the support at $1.14 (1.72%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is NanoViricides, Inc stock A Buy?
NanoViricides, 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: 0.217 Hold/Accumulate Unchanged
Predicted Opening Price for NanoViricides, Inc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$1.15 ( 0.718%) | $1.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NNVC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.21 | 4.02 % | |
R2 | 1.19 | 2.21 % | ||
R1 | 1.17 | 1.09 % | ||
Current price: | 1.16 | |||
Support | S1 | 1.13 | -2.53 % | |
S2 | 1.12 | -3.65 % | ||
S3 | 1.10 | -5.46 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.33 | 14.66 % | |
R2 | 1.24 | 6.90 % | ||
R1 | 1.17 | 0.86 % | ||
Current price | 1.16 | |||
Support | S1 | 1.14 | -1.72% | |
S2 | 1.13 | -2.59% | ||
S3 | 1.02 | -12.07% |
FAQ
Click here for our free guide on how to buy NanoViricides, Inc Stock.