Provectus Pharmaceuticals, Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Thursday for Provectus Pharmaceuticals, Inc stock after gaining 1.24%
(Updated on Apr 25, 2024)
The Provectus Pharmaceuticals, Inc stock price gained 1.24% on the last trading day (Thursday, 25th Apr 2024), rising from $0.194 to $0.196. During the last trading day the stock fluctuated 6.10% from a day low at $0.185 to a day high of $0.196. The price has risen in 5 of the last 10 days and is up by 7.97% 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, 183 thousand more shares were traded than the day before. In total, 251 thousand shares were bought and sold for approximately $49.30 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 41.98% during the next 3 months and, with a 90% probability hold a price between $0.227 and $0.355 at the end of this 3-month period.
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PVCT Signals & Forecast
The Provectus Pharmaceuticals, Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.194 and $0.188. 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). Provectus Pharmaceuticals, 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. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -9.43%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Provectus Pharmaceuticals, Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.180 and $0.170. 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, Provectus Pharmaceuticals, Inc finds support just below today's level at $0.180. If this is broken, then the next support from accumulated volume will be at $0.170 and $0.169.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0113 between high and low, or 6.10%. For the last week, the stock has had daily average volatility of 5.21%.
Our recommended stop-loss: $0.187 (-4.97%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 28 days ago.)
Trading Expectations (PVCT) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Provectus Pharmaceuticals, Inc to open at $0.193, and during the day (based on 14 day Average True Range), to move between $0.180 and $0.213, which gives a possible trading interval of +/-$0.0165 (+/-8.43%) up or down from last closing price. If Provectus Pharmaceuticals, Inc takes out the full calculated possible swing range there will be an estimated 16.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.199 (1.20%) than the support at $0.180 (8.40%), 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 Provectus Pharmaceuticals, Inc 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 Provectus Pharmaceuticals, Inc stock to perform well in the short-term.
Current score: 4.674 Buy Candidate Unchanged
Predicted Opening Price for Provectus Pharmaceuticals, Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.193 ( 1.92%) | $0.196 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PVCT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.204 | 3.84 % | |
| R2 | 0.200 | 1.64 % | ||
| R1 | 0.197 | 0.280 % | ||
| Current price: | 0.196 | |||
| Support | S1 | 0.188 | -4.12 % | |
| S2 | 0.186 | -5.47 % | ||
| S3 | 0.181 | -7.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.213 | 8.55 % | |
| R2 | 0.200 | 1.83 % | ||
| R1 | 0.199 | 1.20 % | ||
| Current price | 0.196 | |||
| Support | S1 | 0.180 | -8.40% | |
| S2 | 0.170 | -13.44% | ||
| S3 | 0.169 | -14.10% |
FAQ
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