Cyanotech Corporation Stock Forecast
Cyanotech Corporation stock price ended at $0.291 on Thursday, after losing 0%.
(Updated on Mar 28, 2024)
No changes to the price of Cyanotech Corporation stock on the last trading day (Thursday, 28th Mar 2024). During the last trading day the stock fluctuated 0% from a day low at $0.291 to a day high of $0.291. The price has been going up and down for this period, and there has been a -6.43% loss for the last 2 weeks.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.163, a level that may pose a second chance to hit a runner. According to fan-theory $0.484 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt. 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
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. 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. 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 $0.297 and $0.345. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -19.39%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Cyanotech Corporation stock
Cyanotech Corporation finds support from accumulated volume at $0.291 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. 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 10.54%.
Our recommended stop-loss: $0.272 (-6.44%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (CYAN) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Cyanotech Corporation to open at $0.291, and during the day (based on 14 day Average True Range), to move between $0.247 and $0.335, which gives a possible trading interval of +/-$0.0441 (+/-15.17%) up or down from last closing price. If Cyanotech Corporation takes out the full calculated possible swing range there will be an estimated 30.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.291 (0.17%) than the resistance at $0.300 (3.09%), 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 this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Cyanotech Corporation of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$0.291 ( 0%) | $0.291 |
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 | 0.291 | . | |
R2 | 0.291 | . | ||
R1 | 0.291 | . | ||
Current price: | 0.291 | |||
Support | S1 | 0.291 | . | |
S2 | 0.291 | . | ||
S3 | 0.291 | . |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.325 | 11.68 % | |
R2 | 0.311 | 6.87 % | ||
R1 | 0.300 | 3.09 % | ||
Current price | 0.291 | |||
Support | S1 | 0.291 | -0.172% | |
S2 | 0.261 | -10.27% | ||
S3 | 0.240 | -17.53% |
FAQ
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