Cyngn Inc. Stock Forecast
Big movements in Cyngn Inc. stock price on Tuesday moving 14.00% between high and low
(Updated on Jul 02, 2024)
The Cyngn Inc. stock price fell by -28.19% on the last day (Tuesday, 2nd Jul 2024) from $0.0713 to $0.0512. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 14.00% from a day low at $0.0500 to a day high of $0.0570. The price has fallen in 8 of the last 10 days and is down by -40.74% for this period. Volume has increased on the last day by 30 million 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, 36 million shares were bought and sold for approximately $1.87 million.
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 -40.42% during the next 3 months and, with a 90% probability hold a price between $0.0196 and $0.0596 at the end of this 3-month period.
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CYN Signals & Forecast
There are few to no technical positive signals at the moment. 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 $0.0680 and $0.0935. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -61.12%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Cyngn Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0070 between high and low, or 14.00%. For the last week, the stock has had daily average volatility of 16.51%.
Cyngn Inc. is oversold on RSI14 (24). 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 Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Cyngn Inc. to open at $0.0527, and during the day (based on 14 day Average True Range), to move between $0.0361 and $0.0663, which gives a possible trading interval of +/-$0.0151 (+/-29.55%) up or down from last closing price. If Cyngn Inc. takes out the full calculated possible swing range there will be an estimated 59.10% move between the lowest and the highest trading price during the day.
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: -6.807 Strong Sell Candidate Downgraded
Predicted Opening Price for Cyngn Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.0527 ( 2.99%) | $0.0512 |
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 | |
|---|---|---|
| R3 | 0.0597 | 16.67% |
| R2 | 0.0571 | 11.44% |
| R1 | 0.0554 | 8.22% |
| Price | 0.0512 | |
| S1 | 0.0501 | -2.23% |
| S2 | 0.0484 | -5.45% |
| S3 | 0.0457 | -10.68% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.0512 | |
| S1 | 0 | - |
| S2 | 0 | - |
| 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% |
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