Cardio Diagnostics Holdings, Inc. Stock Forecast
Big movements in Cardio Diagnostics Holdings, Inc. stock price on Friday moving 13.83% between high and low
(Updated on Apr 26, 2024)
The Cardio Diagnostics Holdings, Inc. stock price fell by -4.49% on the last day (Friday, 26th Apr 2024) from $0.722 to $0.690. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 13.83% from a day low at $0.650 to a day high of $0.740. The price has fallen in 7 of the last 10 days and is down by -37.84% for this period. Volume has increased on the last day by 147 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, 446 thousand shares were bought and sold for approximately $307.98 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 -57.65% during the next 3 months and, with a 90% probability hold a price between $0.211 and $0.402 at the end of this 3-month period. 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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CDIO Signals & Forecast
There are few to no technical positive signals at the moment. The Cardio Diagnostics Holdings, 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 $0.80 and $1.15. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -42.98%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Cardio Diagnostics Holdings, Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Cardio Diagnostics Holdings, 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 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 $0.0899 between high and low, or 13.83%. For the last week, the stock has had daily average volatility of 12.32%.
Cardio Diagnostics Holdings, Inc. is oversold on RSI14 (22). 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 (CDIO) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Cardio Diagnostics Holdings, Inc. to open at $0.693, and during the day (based on 14 day Average True Range), to move between $0.573 and $0.81, which gives a possible trading interval of +/-$0.117 (+/-17.01%) up or down from last closing price. If Cardio Diagnostics Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 34.02% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.722, some $0.0324 (4.70%) from the current price of $0.690, our system finds the risk reward not very attractive.
Is Cardio Diagnostics Holdings, Inc. stock A Buy?
Cardio Diagnostics Holdings, 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: -8.081 Strong Sell Candidate Unchanged
Predicted Opening Price for Cardio Diagnostics Holdings, Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.693 ( 0.478%) | $0.690 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CDIO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.783 | 13.51 % | |
| R2 | 0.749 | 8.53 % | ||
| R1 | 0.728 | 5.46 % | ||
| Current price: | 0.690 | |||
| Support | S1 | 0.659 | -4.50 % | |
| S2 | 0.638 | -7.57 % | ||
| S3 | 0.603 | -12.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.752 | 8.91 % | |
| R2 | 0.749 | 8.55 % | ||
| R1 | 0.722 | 4.70 % | ||
| Current price | 0.690 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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