ChromaDex Corporation Stock Forecast
Red day on Wednesday for ChromaDex Corporation stock after losing 0%
(Updated on Apr 24, 2024)
No changes to the price of ChromaDex Corporation stock on the last trading day (Wednesday, 24th Apr 2024). During the last trading day the stock fluctuated 8.31% from a day low at $3.37 to a day high of $3.65. The price has risen in 5 of the last 10 days but is still down by -13.27% for this period.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.05 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 168.00% during the next 3 months and, with a 90% probability hold a price between $8.18 and $13.49 at the end of this 3-month period.
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CDXC Signals & Forecast
The ChromaDex Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $3.59. On a fall, the stock will find some support from the long-term average at approximately $3.26. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell 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, April 04, 2024, and so far it has fallen -21.30%. Further fall is indicated until a new bottom pivot has been found. 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".
Support, Risk & Stop-loss for ChromaDex Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.06 and $2.99. 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, ChromaDex Corporation finds support just below today's level at $3.06. If this is broken, then the next support from accumulated volume will be at $2.99 and $2.71.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.280 between high and low, or 8.31%. For the last week the stock has had daily average volatility of 13.66%.
Our recommended stop-loss: $3.18 (-6.34%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (CDXC) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect ChromaDex Corporation to open at $3.47, and during the day (based on 14 day Average True Range), to move between $3.01 and $3.79, which gives a possible trading interval of +/-$0.386 (+/-11.35%) up or down from last closing price. If ChromaDex Corporation takes out the full calculated possible swing range there will be an estimated 22.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.06 (10.00%) than the resistance at $3.79 (11.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ChromaDex Corporation 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 ChromaDex Corporation stock to perform well in the short-term.
Current score: 1.245 Buy Candidate Unchanged
Predicted Opening Price for ChromaDex Corporation of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$3.47 ( 2.16%) | $3.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CDXC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.75 | 10.39 % | |
R2 | 3.65 | 7.25 % | ||
R1 | 3.58 | 5.30 % | ||
Current price: | 3.40 | |||
Support | S1 | 3.37 | -0.99 % | |
S2 | 3.30 | -2.93 % | ||
S3 | 3.19 | -6.08 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.02 | 18.24 % | |
R2 | 3.84 | 12.94 % | ||
R1 | 3.79 | 11.47 % | ||
Current price | 3.40 | |||
Support | S1 | 3.06 | -10.00% | |
S2 | 2.99 | -12.06% | ||
S3 | 2.71 | -20.29% |
FAQ
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