Aytu Bioscience Stock Forecast
Aytu Bioscience stock price ended at $3.01 on Thursday, after gaining 4.04%.
(Updated on May 02, 2024)
The Aytu Bioscience stock price gained 4.04% on the last trading day (Thursday, 2nd May 2024), rising from $2.89 to $3.01. During the last trading day the stock fluctuated 2.03% from a day low at $2.95 to a day high of $3.01. The price has risen in 6 of the last 10 days and is up by 7.89% over the past 2 weeks. Volume fell on the last day by -586 shares and in total, 7 thousand shares were bought and sold for approximately $22.11 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Aytu Bioscience stock with a 90% probability to be traded between $2.72 and $3.41 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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AYTU Signals & Forecast
The Aytu Bioscience stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $2.87 and $2.96. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 12.31%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Aytu Bioscience stock
Aytu Bioscience finds support from accumulated volume at $2.96 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0600 between high and low, or 2.03%. For the last week the stock has had daily average volatility of 2.80%.
Our recommended stop-loss: $2.90 (-3.66%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (AYTU) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Aytu Bioscience to open at $2.99, and during the day (based on 14 day Average True Range), to move between $2.86 and $3.16, which gives a possible trading interval of +/-$0.149 (+/-4.95%) up or down from last closing price. If Aytu Bioscience takes out the full calculated possible swing range there will be an estimated 9.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.04 (1.00%) than the support at $2.96 (1.66%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Aytu Bioscience will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.640. We will update the financials statements for Aytu Bioscience, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.83% in the first trading day after earnings release.
Is Aytu Bioscience stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Aytu Bioscience stock to perform well in the short-term period.
Current score: 3.523 Buy Candidate Unchanged
Predicted Opening Price for Aytu Bioscience of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $2.99 ( 0.664%) | $3.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AYTU
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.05 | 1.33 % | |
| R2 | 3.03 | 0.567 % | ||
| R1 | 3.01 | 0.0970 % | ||
| Current price: | 3.01 | |||
| Support | S1 | 2.97 | -1.43 % | |
| S2 | 2.95 | -1.90 % | ||
| S3 | 2.93 | -2.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.28 | 8.97 % | |
| R2 | 3.15 | 4.65 % | ||
| R1 | 3.04 | 1.00 % | ||
| Current price | 3.01 | |||
| Support | S1 | 2.96 | -1.66% | |
| S2 | 2.89 | -3.99% | ||
| S3 | 2.68 | -10.96% |
FAQ
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