Innovation Pharmaceuticals Inc (IPIX)

[Citrati]

Yes, that is possible.
What has my attention on your chart is whether price closes below those lines for the second time today when it was previously above. The macd on your chart is showing a slowing trend via the histo bars lowering and the the signal lines getting closer together. The fact that during the entire last month the rsi hasn't been able to get through that 50 mid point demonstrates a lack of current momentum.

My interpretation of the tea leaves is that price can still go either way, but the bias has shifted a bit toward the down possibility. Also, the market for IPIX seems to be wanting more significant news than the most recent PR's.

Just one opinion on the present. Some major news can bring an immediate and strong up move.

All IMO.