Cadrenal Therapeutics, Inc. Stock Forecast
Cadrenal Therapeutics, Inc. stock price fell more than -5.23% Friday closing at $0.460
(Updated on May 10, 2024)
The Cadrenal Therapeutics, Inc. stock price fell by -5.23% on the last day (Friday, 10th May 2024) from $0.485 to $0.460. During the last trading day the stock fluctuated 7.80% from a day low at $0.459 to a day high of $0.495. The price has risen in 6 of the last 10 days and is up by 6.85% over the past 2 weeks. Volume has increased on the last day by 41 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, 108 thousand shares were bought and sold for approximately $49.72 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 -38.57% during the next 3 months and, with a 90% probability hold a price between $0.168 and $0.393 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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CVKD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 17.98%. 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 Cadrenal Therapeutics, 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 $0.482 and $0.494. A break-up above any of these levels will issue buy signals. Cadrenal Therapeutics, 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 Cadrenal Therapeutics, Inc. stock
Cadrenal Therapeutics, Inc. finds support from accumulated volume at $0.442 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0358 between high and low, or 7.80%. For the last week, the stock has had daily average volatility of 7.38%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CVKD) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Cadrenal Therapeutics, Inc. to open at $0.471, and during the day (based on 14 day Average True Range), to move between $0.418 and $0.502, which gives a possible trading interval of +/-$0.0418 (+/-9.09%) up or down from last closing price. If Cadrenal Therapeutics, Inc. takes out the full calculated possible swing range there will be an estimated 18.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.442 (3.85%) than the resistance at $0.480 (4.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cadrenal Therapeutics, Inc. stock A Buy?
Cadrenal Therapeutics, 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.856 Sell Candidate Downgraded
Predicted Opening Price for Cadrenal Therapeutics, Inc. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $0.471 ( 2.46%) | $0.460 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CVKD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.507 | 10.25 % | |
| R2 | 0.493 | 7.27 % | ||
| R1 | 0.485 | 5.44 % | ||
| Current price: | 0.460 | |||
| Support | S1 | 0.458 | -0.509 % | |
| S2 | 0.449 | -2.35 % | ||
| S3 | 0.436 | -5.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.500 | 8.70 % | |
| R2 | 0.491 | 6.63 % | ||
| R1 | 0.480 | 4.35 % | ||
| Current price | 0.460 | |||
| Support | S1 | 0.442 | -3.85% | |
| S2 | 0.436 | -5.22% | ||
| S3 | 0.409 | -11.15% |
FAQ
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