Volatile ride for Cytodyn Inc stock price on Wednesday moving between $0.359 and $0.480

The Cytodyn Inc stock price gained 15.90% on the last trading day (Wednesday, 8th Mar 2023), rising from $0.363 to $0.421. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 33.63% from a day low at $0.359 to a day high of $0.480. The price has risen in 5 of the last 10 days and is up by 24.56% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $1.45 million.

HC Wainwright & Co. does not see either upside or downside right now giving CYDY "" on their last update on Jul 06, 2020. The price target was set to 0.

Given the current short-term trend, the stock is expected to rise 20.73% during the next 3 months and, with a 90% probability hold a price between $0.282 and $0.508 at the end of this 3-month period.

The Cytodyn Inc stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.338 and $0.295. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, December 22, 2022, and so far it has risen 144.77%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Cytodyn Inc 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.

On the downside, the stock finds support just below today's level from accumulated volume at $0.338 and $0.325.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, Cytodyn Inc finds support just below today's level at $0.338. If this is broken, then the next support from accumulated volume will be at $0.325 and $0.325.

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 $0.121 between high and low, or 33.63%. For the last week, the stock has had daily average volatility of 15.56%.

The Cytodyn Inc stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.

Cytodyn Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.