Cardio Diagnostics Holdings, Inc. Stock Forecast

Volatile ride for Cardio Diagnostics Holdings, Inc. stock price on Tuesday moving between $0.0277 and $0.0434
(Updated on Jun 25, 2024)

CDIOW Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 45.15%. 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). 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 $0.0544. On a fall, the stock will find some support from the short-term average at $0.0384. 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. 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". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Cardio Diagnostics Holdings, Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0388 and $0.0360. 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, Cardio Diagnostics Holdings, Inc. finds support just below today's level at $0.0388. If this is broken, then the next support from accumulated volume will be at $0.0360 and $0.0350.

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 $0.0157 between high and low, or 56.68%. For the last week, the stock has had daily average volatility of 27.33%.

Our recommended stop-loss: $0.0422 (-2.82%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 24 days ago.)

Trading Expectations (CDIOW) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Cardio Diagnostics Holdings, Inc. to open at $0.0382, and during the day (based on 14 day Average True Range), to move between $0.0329 and $0.0539, which gives a possible trading interval of +/-$0.0105 (+/-24.29%) 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 48.57% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0474 (9.22%) than the support at $0.0388 (10.60%), 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.

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: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Cardio Diagnostics Holdings, Inc. of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.