Luna Innovations Incorporated Stock Forecast
Volatile ride for Luna Innovations Incorporated stock price on Friday moving between $2.28 and $3.23
(Updated on May 03, 2024)
The Luna Innovations Incorporated stock price gained 36.00% on the last trading day (Friday, 3rd May 2024), rising from $2.25 to $3.06. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 41.67% from a day low at $2.28 to a day high of $3.23. The price has fallen in 5 of the last 10 days but is still up by 10.47% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $11.63 million.
Given the current short-term trend, the stock is expected to fall -68.79% during the next 3 months and, with a 90% probability hold a price between $0.375 and $0.96 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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LUNA Signals & Forecast
The Luna Innovations Incorporated stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $2.24 and $2.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 53.77%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Luna Innovations Incorporated stock
Luna Innovations Incorporated finds support from accumulated volume at $3.03 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 $0.95 between high and low, or 41.67%. For the last week, the stock has had daily average volatility of 15.49%.
Our recommended stop-loss: $2.95 (-3.72%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (LUNA) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Luna Innovations Incorporated to open at $2.86, and during the day (based on 14 day Average True Range), to move between $2.76 and $3.36, which gives a possible trading interval of +/-$0.299 (+/-9.77%) up or down from last closing price. If Luna Innovations Incorporated takes out the full calculated possible swing range there will be an estimated 19.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.03 (0.98%) than the resistance at $3.14 (2.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Luna Innovations Incorporated stock A Buy?
Luna Innovations Incorporated holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Luna Innovations Incorporated of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $2.86 ( 6.64%) | $3.06 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 3.81 | 24.40 % | |
| R2 | 3.44 | 12.54 % | ||
| R1 | 3.22 | 5.21 % | ||
| Current price: | 3.06 | |||
| Support | S1 | 2.49 | -18.50 % | |
| S2 | 2.27 | -25.83 % | ||
| S3 | 1.91 | -37.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.75 | 22.55 % | |
| R2 | 3.55 | 16.01 % | ||
| R1 | 3.14 | 2.61 % | ||
| Current price | 3.06 | |||
| Support | S1 | 3.03 | -0.98% | |
| S2 | 2.77 | -9.48% | ||
| S3 | 2.42 | -20.92% |
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