PPBT Price Prediction Next Week
Analysis and Insights
News Impact Analysis:
Purple Biotech Ltd. (PPBT) recently announced a registered direct offering of 472,668 American Depositary Shares (ADSs) at $6.00 each, aiming to raise approximately $2.8 million. This announcement led to a significant drop in the stock price, with a 25-28% decline in pre-market trading. The offering is expected to close on December 4, 2024, and the proceeds will be used to fund oncology therapeutic development and general corporate purposes.
Technical Indicators:
- RSI (14, 12, 6): 44.47, 41.86, 41.74 (below 50, indicating bearish momentum).
- MACD: -0.13 (slightly bearish).
- Fibonacci Levels: Resistance at $2.96 and $3.06, support at $2.55 and $2.40.
Recent Stock Price:
As of March 24, 2025, PPBT is trading at $2.69 with a Fibonacci pivot at $2.81. The stock has shown volatility, with a pre-market increase of 2.21% but a regular market decrease of 1.65%. Volume is low, suggesting reduced investor activity.
Forecast and Recommendation:
Based on the analysis, PPBT is expected to decline to $2.40 in the next trading week. The bearish technical indicators, negative news sentiment, and low volume support this outlook.
Recommendation: Sell PPBT as the stock is likely to continue its downward trend due to the dilutive effect of the ADS offering and bearish technical indicators.
PPBT Similar Chart Price Prediction
The price of PPBT is predicted to go up -5.94%, based on the high correlation periods with KLIC. The similarity of these two price pattern on the periods is 96.21%.
PPBT
KLIC
