Cyanotech Corporation Stock Forecast
Stronger technical forecast for Cyanotech Corporation stock price after Tuesday trading.
(Updated on Apr 23, 2024)
No changes to the price of Cyanotech Corporation stock on the last trading day (Tuesday, 23rd Apr 2024). During the last trading day the stock fluctuated 0% from a day low at $0.301 to a day high of $0.301. The price has been going up and down for this period, and there has been a -12.9% loss for the last 2 weeks.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CYAN Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cyanotech Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.325 and $0.319. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Cyanotech Corporation stock
Cyanotech Corporation finds support from accumulated volume at $0.300 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.0333%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CYAN) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Cyanotech Corporation to open at $0.301, and during the day (based on 14 day Average True Range), to move between $0.263 and $0.338, which gives a possible trading interval of +/-$0.0380 (+/-12.63%) up or down from last closing price. If Cyanotech Corporation takes out the full calculated possible swing range there will be an estimated 25.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.300 (0.17%) than the resistance at $0.311 (3.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cyanotech Corporation stock A Buy?
Cyanotech Corporation holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -1.881 Sell Candidate Upgraded
Predicted Opening Price for Cyanotech Corporation of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $0.301 ( 0%) | $0.301 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CYAN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.301 | . | |
| R2 | 0.301 | . | ||
| R1 | 0.301 | . | ||
| Current price: | 0.301 | |||
| Support | S1 | 0.301 | . | |
| S2 | 0.301 | . | ||
| S3 | 0.301 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.330 | 9.82 % | |
| R2 | 0.325 | 8.15 % | ||
| R1 | 0.311 | 3.49 % | ||
| Current price | 0.301 | |||
| Support | S1 | 0.300 | -0.166% | |
| S2 | 0.261 | -13.11% | ||
| S3 | 0.240 | -20.13% |
FAQ
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