Cyngn Inc. Stock Forecast
Is Cyngn Inc. stock still a buy after falling -6.49% on Wednesday?
(Updated on Apr 24, 2024)
The Cyngn Inc. stock price fell by -6.49% on the last day (Wednesday, 24th Apr 2024) from $0.114 to $0.107. During the last trading day the stock fluctuated 9.50% from a day low at $0.101 to a day high of $0.111. The price has fallen in 7 of the last 10 days and is down by -31.97% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -273 million shares and in total, 50 million shares were bought and sold for approximately $5.38 million.
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 $0.0912 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -36.85% during the next 3 months and, with a 90% probability hold a price between $0.0576 and $0.107 at the end of this 3-month period.
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CYN Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.86%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cyngn 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 $0.109 and $0.152. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Cyngn Inc. stock
Cyngn Inc. finds support from accumulated volume at $0.102 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 $0.0096 between high and low, or 9.50%. For the last week, the stock has had daily average volatility of 37.54%.
Cyngn Inc. is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CYN) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Cyngn Inc. to open at $0.106, and during the day (based on 14 day Average True Range), to move between $0.0797 and $0.133, which gives a possible trading interval of +/-$0.0269 (+/-25.20%) up or down from last closing price. If Cyngn Inc. takes out the full calculated possible swing range there will be an estimated 50.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.102 (4.13%) than the resistance at $0.113 (6.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cyngn Inc. stock A Buy?
Cyngn Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.034 Strong Sell Candidate Downgraded
Predicted Opening Price for Cyngn Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.106 ( 0.438%) | $0.107 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CYN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.116 | 8.57 % | |
| R2 | 0.112 | 5.13 % | ||
| R1 | 0.110 | 3.00 % | ||
| Current price: | 0.107 | |||
| Support | S1 | 0.102 | -3.88 % | |
| S2 | 0.100 | -6.00 % | ||
| S3 | 0.0965 | -9.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.121 | 13.51 % | |
| R2 | 0.114 | 6.94 % | ||
| R1 | 0.113 | 6.29 % | ||
| Current price | 0.107 | |||
| Support | S1 | 0.102 | -4.13% | |
| S2 | 0.101 | -5.53% | ||
| S3 | 0 | . |
CYN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 29, 2015 | Oct 08, 2015 | Oct 20, 2015 | $0.350 | 0% |
| 2 | Jul 24, 2015 | Aug 03, 2015 | Aug 19, 2015 | $0.350 | 0% |
| 3 | Apr 24, 2015 | May 04, 2015 | May 20, 2015 | $0.350 | 0% |
| 4 | Jan 22, 2015 | Feb 02, 2015 | Feb 18, 2015 | $0.350 | 0% |
| 5 | Oct 24, 2014 | Nov 03, 2014 | Nov 19, 2014 | $0.330 | 0% |
FAQ
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