Cyngn Inc. Stock Forecast
Red day on Monday for Cyngn Inc. stock after losing 3.14%
(Updated on Jun 17, 2024)
The Cyngn Inc. stock price fell by -3.14% on the last day (Monday, 17th Jun 2024) from $0.0892 to $0.0864. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 9.98% from a day low at $0.0832 to a day high of $0.0915. The price has fallen in 7 of the last 10 days and is down by -17.32% 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 -2 million shares and in total, 13 million shares were bought and sold for approximately $1.12 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 -40.99% during the next 3 months and, with a 90% probability hold a price between $0.0244 and $0.0643 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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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 $0.0939 and $0.103. 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 -34.40%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Cyngn Inc. stock
Cyngn Inc. finds support from accumulated volume at $0.0858 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0083 between high and low, or 9.98%. For the last week the stock has had daily average volatility of 15.89%.
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 Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Cyngn Inc. to open at $0.0870, and during the day (based on 14 day Average True Range), to move between $0.0677 and $0.105, which gives a possible trading interval of +/-$0.0187 (+/-21.67%) up or down from last closing price. If Cyngn Inc. takes out the full calculated possible swing range there will be an estimated 43.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0858 (0.69%) than the resistance at $0.0950 (9.95%), 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.
Current score: -5.139 Strong Sell Candidate Unchanged
Predicted Opening Price for Cyngn Inc. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $0.0870 ( 0.733%) | $0.0864 |
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 | 0.0953 | 10.34% |
| R2 | 0.0922 | 6.67% |
| R1 | 0.0902 | 4.40% |
| Price | 0.0864 | |
| S1 | 0.0839 | -2.94% |
| S2 | 0.0819 | -5.20% |
| S3 | 0.0787 | -8.87% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.107 | 23.38% |
| R2 | 0.103 | 18.63% |
| R1 | 0.0950 | 9.95% |
| Price | 0.0864 | |
| S1 | 0.0858 | -0.694% |
| S2 | 0.0756 | -12.50% |
| S3 | 0.0731 | -15.39% |
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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