Luna Innovations Incorporated Stock Forecast
Luna Innovations Incorporated stock price down 2.93% on Thursday
(Updated on Apr 25, 2024)
The Luna Innovations Incorporated stock price fell by -2.93% on the last day (Thursday, 25th Apr 2024) from $2.05 to $1.99. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 7.07% from a day low at $1.98 to a day high of $2.12. The price has fallen in 7 of the last 10 days and is down by -28.42% for this period. Volume has increased on the last day by 386 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 890 thousand shares were bought and sold for approximately $1.77 million.
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. Given the current short-term trend, the stock is expected to fall -73.61% during the next 3 months and, with a 90% probability hold a price between $0.213 and $0.628 at the end of this 3-month period. 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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LUNA Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Luna Innovations Incorporated stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $2.43 and $3.48. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 18, 2024, and so far it has fallen -28.93%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Luna Innovations Incorporated stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.140 between high and low, or 7.07%. For the last week, the stock has had daily average volatility of 12.60%.
Luna Innovations Incorporated is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LUNA) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Luna Innovations Incorporated to open at $2.03, and during the day (based on 14 day Average True Range), to move between $1.71 and $2.27, which gives a possible trading interval of +/-$0.279 (+/-14.02%) up or down from last closing price. If Luna Innovations Incorporated takes out the full calculated possible swing range there will be an estimated 28.03% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $2.22, some $0.230 (11.56%) from the current price of $1.99, our system finds the risk reward not very attractive.
Is Luna Innovations Incorporated stock A Buy?
Luna Innovations Incorporated 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.
Current score: -5.938 Strong Sell Candidate Unchanged
Predicted Opening Price for Luna Innovations Incorporated of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $2.03 ( 2.01%) | $1.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LUNA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.17 | 9.05 % | |
| R2 | 2.12 | 6.36 % | ||
| R1 | 2.08 | 4.70 % | ||
| Current price: | 1.99 | |||
| Support | S1 | 1.98 | -0.677 % | |
| S2 | 1.94 | -2.34 % | ||
| S3 | 1.89 | -5.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.45 | 22.86 % | |
| R2 | 2.42 | 21.61 % | ||
| R1 | 2.22 | 11.56 % | ||
| Current price | 1.99 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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