Cytodyn Inc Stock Forecast
Cytodyn Inc stock price up 3.32% on Thursday
(Updated on Apr 18, 2024)
The Cytodyn Inc stock price gained 3.32% on the last trading day (Thursday, 18th Apr 2024), rising from $0.146 to $0.151. During the last trading day the stock fluctuated 9.22% from a day low at $0.143 to a day high of $0.156. The price has been going up and down for this period, and there has been a -5.84% 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, 106 thousand more shares were traded than the day before. In total, 807 thousand shares were bought and sold for approximately $121.73 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.144 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -5.32% during the next 3 months and, with a 90% probability hold a price between $0.137 and $0.237 at the end of this 3-month period.
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CYDY Signals & Forecast
There are mixed signals in the stock today. The Cytodyn 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 $0.152 and $0.172. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 4.03%. 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). Cytodyn Inc 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. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Cytodyn Inc stock
Cytodyn Inc finds support from accumulated volume at $0.148 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0132 between high and low, or 9.22%. For the last week, the stock has had daily average volatility of 12.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CYDY) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Cytodyn Inc to open at $0.150, and during the day (based on 14 day Average True Range), to move between $0.137 and $0.164, which gives a possible trading interval of +/-$0.0135 (+/-8.93%) up or down from last closing price. If Cytodyn Inc takes out the full calculated possible swing range there will be an estimated 17.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.148 (1.89%) than the resistance at $0.169 (12.01%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cytodyn Inc stock A Buy?
Cytodyn Inc 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: -3.264 Sell Candidate Unchanged
Predicted Opening Price for Cytodyn Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $0.150 ( 0.762%) | $0.151 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CYDY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.163 | 7.95 % | |
| R2 | 0.158 | 4.62 % | ||
| R1 | 0.155 | 2.57 % | ||
| Current price: | 0.151 | |||
| Support | S1 | 0.145 | -4.09 % | |
| S2 | 0.142 | -6.15 % | ||
| S3 | 0.137 | -9.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.175 | 16.08 % | |
| R2 | 0.172 | 13.69 % | ||
| R1 | 0.169 | 12.01 % | ||
| Current price | 0.151 | |||
| Support | S1 | 0.148 | -1.89% | |
| S2 | 0.146 | -3.22% | ||
| S3 | 0.145 | -3.88% |
FAQ
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