Cyanotech Corporation Stock Forecast
Green day on Friday for Cyanotech Corporation stock after gaining 3.25%
(Updated on Sep 22, 2023)
The Cyanotech Corporation stock price gained 3.25% on the last trading day (Friday, 22nd Sep 2023), rising from $0.765 to $0.790. During the last trading day the stock fluctuated 3.24% from a day low at $0.765 to a day high of $0.790. The price has been going up and down for this period, and there has been a -2.46% loss 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, 2 thousand more shares were traded than the day before. In total, 3 thousand shares were bought and sold for approximately $2.02 thousand.
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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 -18.60% during the next 3 months and, with a 90% probability hold a price between $0.470 and $0.736 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.
CYAN Signals & Forecast
There are mixed signals in the stock today. The Cyanotech Corporation 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 $0.790 and $0.797. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Wednesday, August 30, 2023, and so far it has risen 25.36%. 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). Cyanotech Corporation has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Cyanotech Corporation stock
Cyanotech Corporation finds support from accumulated volume at $0.761 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 $0.0248 between high and low, or 3.24%. For the last week, the stock has had daily average volatility of 12.62%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CYAN) For The Upcoming Trading Day Of Monday 25th
For the upcoming trading day on Monday, 25th we expect Cyanotech Corporation to open at $0.782, and during the day (based on 14 day Average True Range), to move between $0.726 and $0.85, which gives a possible trading interval of +/-$0.0640 (+/-8.10%) up or down from last closing price. If Cyanotech Corporation takes out the full calculated possible swing range there will be an estimated 16.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.80 (1.28%) than the support at $0.761 (3.66%), 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.
Is Cyanotech Corporation stock A Buy?
Cyanotech Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.753 Open Broker Account
Sell Candidate UnchangedPredicted Opening Price for Cyanotech Corporation of Monday, September 25, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price September 25, 2023 | Current price |
|---|---|
| $0.782 | $0.790 (Overvalued) |
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Trading levels for CYAN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.81 | 2.09 % | |
| R2 | 0.797 | 0.89 % | ||
| R1 | 0.791 | 0.153 % | ||
| Current price: | 0.790 | |||
| Support | S1 | 0.772 | -2.25 % | |
| S2 | 0.766 | -2.99 % | ||
| S3 | 0.757 | -4.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.90 | 13.94 % | |
| R2 | 0.81 | 1.94 % | ||
| R1 | 0.80 | 1.28 % | ||
| Current price | 0.790 | |||
| Support | S1 | 0.761 | -3.66% | |
| S2 | 0.660 | -16.46% | ||
| S3 | 0.650 | -17.66% |
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About Cyanotech Corporation
Cyanotech Corporation engages in the cultivation, production, and sale of natural products derived from microalgae worldwide. The company's products include BioAstin Hawaiian Astaxanthin, a dietary antioxidant to enhance skin, and to support eye, joint and immune health, as well as used as a human dietary supplement and dietary ingredient; and Hawaiian Spirulina Pacifica, a nutrient-rich dietary supplement, which is used for extra energy, strengt... CYAN Profile
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