Hyperfine, Inc. Stock Forecast
Red day on Thursday for Hyperfine, Inc.
(Updated on May 02, 2024)
The Hyperfine, Inc. stock price fell by -1.02% on the last day (Thursday, 2nd May 2024) from $0.80 to $0.793. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 7.79% from a day low at $0.770 to a day high of $0.83. The price has fallen in 6 of the last 10 days and is down by -2.11% 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 -5 thousand shares and in total, 71 thousand shares were bought and sold for approximately $56.19 thousand.
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 $0.744 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -20.24% during the next 3 months and, with a 90% probability hold a price between $0.593 and $0.85 at the end of this 3-month period.
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HYPR Signals & Forecast
There are few to no technical positive signals at the moment. The Hyperfine, 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 $0.82 and $0.97. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 05, 2024, and so far it has fallen -36.57%. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Hyperfine, 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0600 between high and low, or 7.79%. For the last week the stock has had daily average volatility of 7.87%.
Hyperfine, Inc. is oversold on RSI14 (23). 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 (HYPR) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Hyperfine, Inc. to open at $0.798, and during the day (based on 14 day Average True Range), to move between $0.718 and $0.87, which gives a possible trading interval of +/-$0.0746 (+/-9.41%) up or down from last closing price. If Hyperfine, Inc. takes out the full calculated possible swing range there will be an estimated 18.83% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.81, some $0.0171 (2.16%) from the current price of $0.793, our system finds the risk reward not very attractive.
Is Hyperfine, Inc. stock A Buy?
Hyperfine, 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: -6.530 Strong Sell Candidate Unchanged
Predicted Opening Price for Hyperfine, Inc. of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$0.798 ( 0.597%) | $0.793 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HYPR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.86 | 8.16 % | |
R2 | 0.83 | 5.27 % | ||
R1 | 0.82 | 3.49 % | ||
Current price: | 0.793 | |||
Support | S1 | 0.775 | -2.29 % | |
S2 | 0.761 | -4.08 % | ||
S3 | 0.738 | -6.97 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.97 | 22.34 % | |
R2 | 0.82 | 3.29 % | ||
R1 | 0.81 | 2.16 % | ||
Current price | 0.793 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
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