Cytek Biosciences, Inc. Stock Forecast
Cytek Biosciences, Inc. stock price ended at $5.63 on Friday, after losing 0.88%.
(Updated on May 31, 2024)
The Cytek Biosciences, Inc. stock price fell by -0.88% on the last day (Friday, 31st May 2024) from $5.68 to $5.63. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 5.03% from a day low at $5.57 to a day high of $5.85. The price has fallen in 8 of the last 10 days and is down by -8.9% for this period. Volume has increased on the last day by 39 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, 421 thousand shares were bought and sold for approximately $2.37 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 -16.56% during the next 3 months and, with a 90% probability hold a price between $4.23 and $5.90 at the end of this 3-month period.
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CTKB Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 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 Cytek Biosciences, Inc. 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 $5.84 and $6.02. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Cytek Biosciences, Inc. 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 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 $0.280 between high and low, or 5.03%. For the last week, the stock has had daily average volatility of 3.64%.
Cytek Biosciences, Inc. 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 (CTKB) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Cytek Biosciences, Inc. to open at $5.68, and during the day (based on 14 day Average True Range), to move between $5.35 and $5.91, which gives a possible trading interval of +/-$0.276 (+/-4.91%) up or down from last closing price. If Cytek Biosciences, Inc. takes out the full calculated possible swing range there will be an estimated 9.81% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $5.97, some $0.340 (6.04%) from the current price of $5.63, our system finds the risk reward not very attractive.
Is Cytek Biosciences, Inc. stock A Buy?
Cytek Biosciences, Inc. 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: -1.317 Sell Candidate Unchanged
Predicted Opening Price for Cytek Biosciences, Inc. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $5.68 ( 0.95%) | $5.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTKB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.96 | 5.92 % | |
| R2 | 5.86 | 4.02 % | ||
| R1 | 5.79 | 2.85 % | ||
| Current price: | 5.63 | |||
| Support | S1 | 5.58 | -0.95 % | |
| S2 | 5.51 | -2.13 % | ||
| S3 | 5.40 | -4.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.70 | 19.01 % | |
| R2 | 6.30 | 11.90 % | ||
| R1 | 5.97 | 6.04 % | ||
| Current price | 5.63 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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