Cytta Corp. Stock Forecast
Volatile ride for Cytta Corp. stock price on Friday moving between $0.0287 and $0.0345
(Updated on May 03, 2024)
The Cytta Corp. stock price gained 25.00% on the last trading day (Friday, 3rd May 2024), rising from $0.0236 to $0.0295. During the last trading day the stock fluctuated 20.21% from a day low at $0.0287 to a day high of $0.0345. The price has been going up and down for this period, and there has been a 20.41% gain for the last 2 weeks. Volume fell on the last day by -483 thousand shares and in total, 349 thousand shares were bought and sold for approximately $10.29 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.0271, a level that may pose a second chance to hit a runner. According to fan-theory $0.0363 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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CYCA Signals & Forecast
The Cytta Corp. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0245 and $0.0250. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 55.26%. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Cytta Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0280 and $0.0275. 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, Cytta Corp. finds support just below today's level at $0.0280. If this is broken, then the next support from accumulated volume will be at $0.0275 and $0.0270.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0058 between high and low, or 20.21%. For the last week the stock has had daily average volatility of 18.82%.
Our recommended stop-loss: $0.0285 (-3.28%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (CYCA) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Cytta Corp. to open at $0.0309, and during the day (based on 14 day Average True Range), to move between $0.0253 and $0.0337, which gives a possible trading interval of +/-$0.0042 (+/-14.32%) up or down from last closing price. If Cytta Corp. takes out the full calculated possible swing range there will be an estimated 28.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0301 (2.03%) than the support at $0.0280 (5.08%), 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 Cytta Corp. stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.762 Buy Candidate Upgraded
Predicted Opening Price for Cytta Corp. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.0309 ( 4.75%) | $0.0295 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CYCA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0367 | 24.41 % | |
| R2 | 0.0345 | 16.90 % | ||
| R1 | 0.0331 | 12.26 % | ||
| Current price: | 0.0295 | |||
| Support | S1 | 0.0287 | -2.76 % | |
| S2 | 0.0273 | -7.40 % | ||
| S3 | 0.0251 | -14.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0350 | 18.64 % | |
| R2 | 0.0320 | 8.47 % | ||
| R1 | 0.0301 | 2.03 % | ||
| Current price | 0.0295 | |||
| Support | S1 | 0.0280 | -5.08% | |
| S2 | 0.0275 | -6.78% | ||
| S3 | 0.0270 | -8.47% |
FAQ
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