Cyngn Inc. Stock Forecast
Cyngn Inc. stock price took a fall of -5.26% on Friday
(Updated on May 03, 2024)
The Cyngn Inc. stock price fell by -5.26% on the last day (Friday, 3rd May 2024) from $0.108 to $0.103. During the last trading day the stock fluctuated 8.19% from a day low at $0.101 to a day high of $0.110. The price has been going up and down for this period, and there has been a -5.09% loss for the last 2 weeks. Volume has increased on the last day by 1 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, 8 million shares were bought and sold for approximately $831.43 thousand.
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 -39.92% during the next 3 months and, with a 90% probability hold a price between $0.0484 and $0.0868 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
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.89%. 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). 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 $0.110 and $0.138. A break-up above any of these levels will issue buy signals. Cyngn Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
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 $0.0083 between high and low, or 8.19%. For the last week, the stock has had daily average volatility of 7.12%.
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 Monday 6th
For the upcoming trading day on Monday, 6th we expect Cyngn Inc. to open at $0.105, and during the day (based on 14 day Average True Range), to move between $0.0836 and $0.122, which gives a possible trading interval of +/-$0.0190 (+/-18.53%) up or down from last closing price. If Cyngn Inc. takes out the full calculated possible swing range there will be an estimated 37.07% 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 (0.39%) than the resistance at $0.107 (3.90%), 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
Cyngn Inc. will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0600. We will update the financials statements for Cyngn Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 17.87% in the first trading day after earnings release.
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: -4.414 Sell Candidate Unchanged
Predicted Opening Price for Cyngn Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.105 ( 1.85%) | $0.103 |
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 | 0.113 | 9.94 % | |
| R2 | 0.110 | 6.85 % | ||
| R1 | 0.108 | 4.94 % | ||
| Current price: | 0.103 | |||
| Support | S1 | 0.101 | -1.24 % | |
| S2 | 0.0994 | -3.15 % | ||
| S3 | 0.0962 | -6.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.114 | 11.11 % | |
| R2 | 0.108 | 5.46 % | ||
| R1 | 0.107 | 3.90 % | ||
| Current price | 0.103 | |||
| Support | S1 | 0.102 | -0.390% | |
| S2 | 0.101 | -1.85% | ||
| 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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