Lyra Therapeutics Inc. Stock Forecast
Lyra Therapeutics Inc. stock price ended at $5.17 on Thursday, after losing 1.15%.
(Updated on Apr 25, 2024)
The Lyra Therapeutics Inc. stock price fell by -1.15% on the last day (Thursday, 25th Apr 2024) from $5.23 to $5.17. During the last trading day the stock fluctuated 2.73% from a day low at $5.13 to a day high of $5.27. The price has fallen in 5 of the last 10 days and is down by -4.96% 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 -15 thousand shares and in total, 105 thousand shares were bought and sold for approximately $544.39 thousand.
The stock has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $5.19. A reaction back to this level may hold a second chance to get out before further falls.
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LYRA Signals & Forecast
There are mixed signals in the stock today. The Lyra Therapeutics 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 $5.26 and $5.64. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 2.99%. 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).
Support, Risk & Stop-loss for Lyra Therapeutics Inc. stock
Lyra Therapeutics Inc. finds support from accumulated volume at $5.00 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 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 $0.140 between high and low, or 2.73%. For the last week the stock has had daily average volatility of 4.25%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LYRA) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Lyra Therapeutics Inc. to open at $5.19, and during the day (based on 14 day Average True Range), to move between $4.84 and $5.50, which gives a possible trading interval of +/-$0.332 (+/-6.43%) up or down from last closing price. If Lyra Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 12.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.30 (2.51%) than the support at $5.00 (3.29%), 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 Lyra Therapeutics Inc. stock A Buy?
Lyra Therapeutics Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.483 Sell Candidate Unchanged
Predicted Opening Price for Lyra Therapeutics Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $5.19 ( 0.387%) | $5.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LYRA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.33 | 3.09 % | |
| R2 | 5.28 | 2.06 % | ||
| R1 | 5.24 | 1.42 % | ||
| Current price: | 5.17 | |||
| Support | S1 | 5.14 | -0.648 % | |
| S2 | 5.10 | -1.29 % | ||
| S3 | 5.05 | -2.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.25 | 20.89 % | |
| R2 | 5.40 | 4.45 % | ||
| R1 | 5.30 | 2.51 % | ||
| Current price | 5.17 | |||
| Support | S1 | 5.00 | -3.29% | |
| S2 | 4.87 | -5.80% | ||
| S3 | 4.82 | -6.77% |
FAQ
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