Lucy Scientific Discovery Inc. Stock Forecast
Big movements in Lucy Scientific Discovery Inc. stock price on Friday moving 18.90% between high and low
(Updated on May 10, 2024)
The Lucy Scientific Discovery Inc. stock price fell by -7.89% on the last day (Friday, 10th May 2024) from $0.793 to $0.730. During the last trading day the stock fluctuated 18.90% from a day low at $0.730 to a day high of $0.87. The price has been going up and down for this period, and there has been a -3.91% loss for the last 2 weeks. Volume has increased on the last day by 56 thousand 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, 107 thousand shares were bought and sold for approximately $77.81 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 -56.91% during the next 3 months and, with a 90% probability hold a price between $0.213 and $0.535 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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LSDI Signals & Forecast
There are few to no technical positive signals at the moment. The Lucy Scientific Discovery 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 $0.787 and $1.08. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 01, 2024, and so far it has fallen -18.00%. 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). Lucy Scientific Discovery 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Lucy Scientific Discovery 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 $0.138 between high and low, or 18.90%. For the last week, the stock has had daily average volatility of 11.90%.
Lucy Scientific Discovery 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 (LSDI) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Lucy Scientific Discovery Inc. to open at $0.776, and during the day (based on 14 day Average True Range), to move between $0.602 and $0.86, which gives a possible trading interval of +/-$0.128 (+/-17.50%) up or down from last closing price. If Lucy Scientific Discovery Inc. takes out the full calculated possible swing range there will be an estimated 35.01% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.760, some $0.0297 (4.07%) from the current price of $0.730, our system finds the risk reward not very attractive.
Is Lucy Scientific Discovery Inc. stock A Buy?
Lucy Scientific Discovery 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: -6.598 Strong Sell Candidate Downgraded
Predicted Opening Price for Lucy Scientific Discovery Inc. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $0.776 ( 6.30%) | $0.730 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LSDI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.91 | 25.21 % | |
| R2 | 0.86 | 17.98 % | ||
| R1 | 0.83 | 13.52 % | ||
| Current price: | 0.730 | |||
| Support | S1 | 0.723 | -0.92 % | |
| S2 | 0.691 | -5.38 % | ||
| S3 | 0.638 | -12.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.87 | 19.18 % | |
| R2 | 0.83 | 13.96 % | ||
| R1 | 0.760 | 4.07 % | ||
| Current price | 0.730 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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