Phio Pharmaceuticals Corp. Stock Forecast
High volatility in Phio Pharmaceuticals Corp. stock price on Monday which ended trading at $0.83
(Updated on Apr 22, 2024)
The Phio Pharmaceuticals Corp. stock price gained 29.69% on the last trading day (Monday, 22nd Apr 2024), rising from $0.640 to $0.83. During the last trading day the stock fluctuated 72.07% from a day low at $0.610 to a day high of $1.05. The price has fallen in 6 of the last 10 days but is still up by 20.26% 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, 7 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately $5.79 million.
The stock lies in the middle of a very wide and weak 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 8.77% during the next 3 months and, with a 90% probability hold a price between $0.693 and $1.23 at the end of this 3-month period.
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PHIO Signals & Forecast
The Phio Pharmaceuticals Corp. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.679 and $0.794. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical 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 Thursday, February 29, 2024, and so far it has fallen -23.16%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Phio Pharmaceuticals Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.760 and $0.725. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Phio Pharmaceuticals Corp. finds support just below today's level at $0.760. If this is broken, then the next support from accumulated volume will be at $0.725 and $0.689.
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 $0.440 between high and low, or 72.07%. For the last week, the stock has had daily average volatility of 17.99%.
Our recommended stop-loss: $0.784 (-5.50%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 36 days ago.)
Trading Expectations (PHIO) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Phio Pharmaceuticals Corp. to open at $0.83, and during the day (based on 14 day Average True Range), to move between $0.742 and $0.92, which gives a possible trading interval of +/-$0.0880 (+/-10.60%) up or down from last closing price. If Phio Pharmaceuticals Corp. takes out the full calculated possible swing range there will be an estimated 21.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.84 (1.22%) than the support at $0.760 (8.42%), 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 Phio Pharmaceuticals Corp. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Phio Pharmaceuticals Corp. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.581 Buy Candidate Upgraded
Predicted Opening Price for Phio Pharmaceuticals Corp. of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $0.83 ( 0.0161%) | $0.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PHIO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.27 | 53.01 % | |
| R2 | 1.10 | 32.77 % | ||
| R1 | 1.00 | 20.26 % | ||
| Current price: | 0.83 | |||
| Support | S1 | 0.662 | -20.23 % | |
| S2 | 0.558 | -32.73 % | ||
| S3 | 0.390 | -52.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.92 | 10.50 % | |
| R2 | 0.85 | 2.41 % | ||
| R1 | 0.84 | 1.22 % | ||
| Current price | 0.83 | |||
| Support | S1 | 0.760 | -8.42% | |
| S2 | 0.725 | -12.65% | ||
| S3 | 0.689 | -16.98% |
FAQ
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