Dynatronics Corporation Stock Forecast
High volatility in Dynatronics Corporation stock price on Friday which ended trading at $0.532
(Updated on Apr 19, 2024)
The Dynatronics Corporation stock price fell by -4.37% on the last day (Friday, 19th Apr 2024) from $0.556 to $0.532. During the last trading day the stock fluctuated 21.41% from a day low at $0.494 to a day high of $0.600. The price has fallen in 6 of the last 10 days but is still up by 32.44% over the past 2 weeks. 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 -572 thousand shares and in total, 210 thousand shares were bought and sold for approximately $111.52 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 -13.56% during the next 3 months and, with a 90% probability hold a price between $0.315 and $0.520 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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DYNT Signals & Forecast
The Dynatronics Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.484 and $0.450. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, April 17, 2024, and so far it has fallen -9.06%. Further fall is indicated until a new bottom pivot has been found. 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 Dynatronics Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.475 and $0.420. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Dynatronics Corporation finds support just below today's level at $0.475. If this is broken, then the next support from accumulated volume will be at $0.420 and $0.402.
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 $0.106 between high and low, or 21.41%. For the last week the stock has had daily average volatility of 32.76%.
Our recommended stop-loss: $0.502 (-5.72%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (DYNT) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Dynatronics Corporation to open at $0.542, and during the day (based on 14 day Average True Range), to move between $0.468 and $0.596, which gives a possible trading interval of +/-$0.0640 (+/-12.03%) up or down from last closing price. If Dynatronics Corporation takes out the full calculated possible swing range there will be an estimated 24.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.550 (3.38%) than the support at $0.475 (10.73%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Dynatronics Corporation stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.215 Buy Candidate Upgraded
Predicted Opening Price for Dynatronics Corporation of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $0.542 ( 1.88%) | $0.532 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DYNT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.648 | 21.77 % | |
| R2 | 0.607 | 14.17 % | ||
| R1 | 0.582 | 9.48 % | ||
| Current price: | 0.532 | |||
| Support | S1 | 0.502 | -5.72 % | |
| S2 | 0.477 | -10.41 % | ||
| S3 | 0.436 | -18.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.585 | 9.96 % | |
| R2 | 0.556 | 4.57 % | ||
| R1 | 0.550 | 3.38 % | ||
| Current price | 0.532 | |||
| Support | S1 | 0.475 | -10.73% | |
| S2 | 0.420 | -21.03% | ||
| S3 | 0.402 | -24.49% |
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