Luna Innovations Incorporated Stock Forecast
Luna Innovations Incorporated stock price up 0.169% on Tuesday
(Updated on Jul 02, 2024)
The Luna Innovations Incorporated stock price gained 0.169% on the last trading day (Tuesday, 2nd Jul 2024), rising from $2.95 to $2.96. During the last trading day the stock fluctuated 5.85% from a day low at $2.82 to a day high of $2.99. The price has fallen in 6 of the last 10 days and is down by -11.26% for this period. Volume fell on the last day by -238 thousand shares and in total, 283 thousand shares were bought and sold for approximately $835.25 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.79 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 37.18% during the next 3 months and, with a 90% probability hold a price between $3.83 and $5.45 at the end of this 3-month period.
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LUNA Signals & Forecast
There are few to no technical positive signals at the moment. The Luna Innovations Incorporated stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $3.32 and $3.27. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 11, 2024, and so far it has fallen -20.78%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Luna Innovations Incorporated stock
Luna Innovations Incorporated finds support from accumulated volume at $2.86 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.165 between high and low, or 5.85%. For the last week the stock has had daily average volatility of 10.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LUNA) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Luna Innovations Incorporated to open at $2.92, and during the day (based on 14 day Average True Range), to move between $2.69 and $3.22, which gives a possible trading interval of +/-$0.261 (+/-8.84%) up or down from last closing price. If Luna Innovations Incorporated takes out the full calculated possible swing range there will be an estimated 17.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.86 (3.38%) than the resistance at $3.06 (3.55%), 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
Is Luna Innovations Incorporated stock A Buy?
The Luna Innovations Incorporated stock holds several negative signals and despite the positive trend, we believe Luna Innovations Incorporated will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -5.713 Strong Sell Candidate Unchanged
Predicted Opening Price for Luna Innovations Incorporated of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $2.92 ( 1.18%) | $2.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LUNA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.09 | 4.40% |
| R2 | 3.02 | 2.27% |
| R1 | 2.98 | 0.95% |
| Price | 2.96 | |
| S1 | 2.86 | -3.32% |
| S2 | 2.82 | -4.64% |
| S3 | 2.76 | -6.77% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.33 | 12.69% |
| R2 | 3.20 | 8.29% |
| R1 | 3.06 | 3.55% |
| Price | 2.96 | |
| S1 | 2.86 | -3.38% |
| S2 | 2.77 | -6.26% |
| S3 | 2.42 | -18.10% |
FAQ
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