Cyanotech Corporation Stock Forecast
Stronger technical forecast for Cyanotech Corporation stock price after Friday trading.
(Updated on May 03, 2024)
The Cyanotech Corporation stock price fell by -1.71% on the last day (Friday, 3rd May 2024) from $0.296 to $0.291. During the last trading day the stock fluctuated 3.23% from a day low at $0.291 to a day high of $0.300. The price has been going up and down for this period, and there has been a -17.09% loss for the last 2 weeks. Volume has increased on the last day by 1 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, 1 thousand shares were bought and sold for approximately $290.60 .
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 -29.79% during the next 3 months and, with a 90% probability hold a price between $0.0364 and $0.318 at the end of this 3-month period.
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CYAN Signals & Forecast
There are few to no technical positive signals at the moment. The Cyanotech Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.344 and $0.324. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -37.17%. 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). Cyanotech Corporation 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 Cyanotech Corporation stock
Cyanotech Corporation finds support from accumulated volume at $0.291 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 $0.0094 between high and low, or 3.23%. For the last week, the stock has had daily average volatility of 12.85%.
Our recommended stop-loss: $0.276 (-5.10%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (CYAN) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Cyanotech Corporation to open at $0.294, and during the day (based on 14 day Average True Range), to move between $0.249 and $0.332, which gives a possible trading interval of +/-$0.0419 (+/-14.42%) up or down from last closing price. If Cyanotech Corporation takes out the full calculated possible swing range there will be an estimated 28.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.291 (0.03%) than the resistance at $0.300 (3.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cyanotech Corporation stock A Buy?
Cyanotech Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Cyanotech Corporation of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$0.294 ( 1.08%) | $0.291 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CYAN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.303 | 4.31 % | |
R2 | 0.300 | 3.08 % | ||
R1 | 0.297 | 2.31 % | ||
Current price: | 0.291 | |||
Support | S1 | 0.290 | -0.157 % | |
S2 | 0.288 | -0.92 % | ||
S3 | 0.284 | -2.16 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.330 | 13.56 % | |
R2 | 0.311 | 7.02 % | ||
R1 | 0.300 | 3.23 % | ||
Current price | 0.291 | |||
Support | S1 | 0.291 | -0.0344% | |
S2 | 0.261 | -10.15% | ||
S3 | 0.240 | -17.41% |
FAQ
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