Cyclerion TherapeuticsInc. Stock Forecast
A very strong day for Cyclerion TherapeuticsInc. stock price on Wednesday
(Updated on May 01, 2024)
The Cyclerion TherapeuticsInc. stock price gained 7.42% on the last trading day (Wednesday, 1st May 2024), rising from $2.83 to $3.04. During the last trading day the stock fluctuated 5.26% from a day low at $3.04 to a day high of $3.20. The price has been going up and down for this period, and there has been a -5.54% loss for the last 2 weeks. Volume fell on the last day by -1 thousand shares and in total, 596 shares were bought and sold for approximately $1.81 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 stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $2.84 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Cyclerion TherapeuticsInc. stock with a 90% probability to be traded between $2.88 and $4.06 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CYCN Signals & Forecast
There are few to no technical positive signals at the moment. The Cyclerion TherapeuticsInc. 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 $3.14. On a fall, the stock will find some support from the short-term average at $2.96. 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. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -13.14%. 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). 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 Cyclerion TherapeuticsInc. stock
Cyclerion TherapeuticsInc. finds support from accumulated volume at $3.01 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.160 between high and low, or 5.26%. For the last week the stock has had daily average volatility of 3.56%.
Our recommended stop-loss: $2.87 (-5.50%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (CYCN) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Cyclerion TherapeuticsInc. to open at $3.09, and during the day (based on 14 day Average True Range), to move between $2.78 and $3.30, which gives a possible trading interval of +/-$0.263 (+/-8.65%) up or down from last closing price. If Cyclerion TherapeuticsInc. takes out the full calculated possible swing range there will be an estimated 17.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.01 (0.99%) than the resistance at $3.15 (3.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Cyclerion TherapeuticsInc. will release earnings BMO on Thursday, May 09, 2024. We will update the financials statements for Cyclerion TherapeuticsInc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 11.32% in the first trading day after earnings release.
Is Cyclerion TherapeuticsInc. stock A Buy?
Cyclerion TherapeuticsInc. 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 Strong Sell to a Hold/Accumulate candidate.
Current score: 0.068 Hold/Accumulate Upgraded
Predicted Opening Price for Cyclerion TherapeuticsInc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $3.09 ( 1.75%) | $3.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CYCN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.25 | 7.01 % | |
| R2 | 3.19 | 5.00 % | ||
| R1 | 3.15 | 3.76 % | ||
| Current price: | 3.04 | |||
| Support | S1 | 3.03 | -0.256 % | |
| S2 | 2.99 | -1.50 % | ||
| S3 | 2.93 | -3.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.37 | 10.86 % | |
| R2 | 3.20 | 5.26 % | ||
| R1 | 3.15 | 3.62 % | ||
| Current price | 3.04 | |||
| Support | S1 | 3.01 | -0.99% | |
| S2 | 2.90 | -4.61% | ||
| S3 | 2.82 | -7.24% |
FAQ
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