Aldeyra Therapeutics Stock Forecast
A very strong day for Aldeyra Therapeutics stock price on Wednesday
(Updated on Mar 27, 2024)
The Aldeyra Therapeutics stock price gained 5.48% on the last trading day (Wednesday, 27th Mar 2024), rising from $2.92 to $3.08. During the last trading day the stock fluctuated 8.67% from a day low at $2.89 to a day high of $3.14. The price has been going up and down for this period, and there has been a 6.21% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 46 thousand more shares were traded than the day before. In total, 303 thousand shares were bought and sold for approximately $933.32 thousand.
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 -2.63% during the next 3 months and, with a 90% probability hold a price between $2.68 and $4.08 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ALDX Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 11.19%. Further rise is indicated until a new top pivot has been found. Aldeyra Therapeutics has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Aldeyra Therapeutics stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $3.34. On a fall, the stock will find some support from the short-term average at $2.92. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Aldeyra Therapeutics stock
Aldeyra Therapeutics finds support from accumulated volume at $3.04 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.250 between high and low, or 8.67%. For the last week, the stock has had daily average volatility of 4.54%.
Aldeyra Therapeutics is oversold on RSI14 (24). 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 (ALDX) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Aldeyra Therapeutics to open at $3.03, and during the day (based on 14 day Average True Range), to move between $2.89 and $3.27, which gives a possible trading interval of +/-$0.189 (+/-6.15%) up or down from last closing price. If Aldeyra Therapeutics takes out the full calculated possible swing range there will be an estimated 12.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.04 (1.30%) than the resistance at $3.23 (4.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Aldeyra Therapeutics stock A Buy?
Aldeyra Therapeutics holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.375 Sell Candidate Unchanged
Predicted Opening Price for Aldeyra Therapeutics of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$3.03 ( 1.52%) | $3.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALDX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.28 | 6.60 % | |
R2 | 3.19 | 3.50 % | ||
R1 | 3.13 | 1.59 % | ||
Current price: | 3.08 | |||
Support | S1 | 2.94 | -4.62 % | |
S2 | 2.88 | -6.53 % | ||
S3 | 2.78 | -9.63 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.35 | 8.77 % | |
R2 | 3.34 | 8.44 % | ||
R1 | 3.23 | 4.87 % | ||
Current price | 3.08 | |||
Support | S1 | 3.04 | -1.30% | |
S2 | 2.90 | -5.84% | ||
S3 | 2.79 | -9.42% |
FAQ
Click here for our free guide on how to buy Aldeyra Therapeutics Stock.