Cardio Diagnostics Holdings, Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Big movements in Cardio Diagnostics Holdings, Inc. stock price on Friday moving 53.42% between high and low
(Updated on May 10, 2024)
The Cardio Diagnostics Holdings, Inc. stock price gained 24.43% on the last trading day (Friday, 10th May 2024), rising from $0.728 to $0.91. During the last trading day the stock fluctuated 53.42% from a day low at $0.730 to a day high of $1.12. The price has been going up and down for this period, and there has been a 31.19% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 10 million more shares were traded than the day before. In total, 10 million shares were bought and sold for approximately $9.08 million.
Given the current short-term trend, the stock is expected to fall -57.11% during the next 3 months and, with a 90% probability hold a price between $0.227 and $0.388 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
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 32.15%. 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). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cardio Diagnostics Holdings, Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.98. On a fall, the stock will find some support from the short-term average at $0.754. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Cardio Diagnostics Holdings, Inc. stock
Cardio Diagnostics Holdings, Inc. finds support from accumulated volume at $0.87 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 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 $0.390 between high and low, or 53.42%. For the last week, the stock has had daily average volatility of 18.02%.
Our recommended stop-loss: $0.87 (-3.62%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (CDIO) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Cardio Diagnostics Holdings, Inc. to open at $0.92, and during the day (based on 14 day Average True Range), to move between $0.794 and $1.02, which gives a possible trading interval of +/-$0.112 (+/-12.33%) 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 24.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.87 (3.89%) than the resistance at $1.03 (13.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cardio Diagnostics Holdings, Inc. stock A Buy?
Cardio Diagnostics Holdings, 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.578 Hold/Accumulate Upgraded
Predicted Opening Price for Cardio Diagnostics Holdings, Inc. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $0.92 ( 1.46%) | $0.91 |
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 | 1.31 | 44.54 % | |
| R2 | 1.16 | 28.08 % | ||
| R1 | 1.07 | 17.92 % | ||
| Current price: | 0.91 | |||
| Support | S1 | 0.769 | -15.00 % | |
| S2 | 0.677 | -25.17 % | ||
| S3 | 0.528 | -41.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.12 | 23.73 % | |
| R2 | 1.11 | 22.62 % | ||
| R1 | 1.03 | 13.79 % | ||
| Current price | 0.91 | |||
| Support | S1 | 0.87 | -3.89% | |
| S2 | 0.767 | -15.29% | ||
| S3 | 0.749 | -17.26% |
FAQ
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