Mynaric AG Stock Forecast

Volatile ride for Mynaric AG stock price on Monday moving between $4.89 and $5.48
(Updated on May 06, 2024)

MYNA Signals & Forecast

The Mynaric AG stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $5.30 and $5.04. A breakdown below any of these levels will issue sell signals. Mynaric AG has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -6.17%. 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).

Support, Risk & Stop-loss for Mynaric AG stock

On the downside, the stock finds support just below today's level from accumulated volume at $4.96 and $4.93. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Mynaric AG finds support just below today's level at $4.96. If this is broken, then the next support from accumulated volume will be at $4.93 and $4.79.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.590 between high and low, or 12.06%. For the last week, the stock has had daily average volatility of 7.62%.

Our recommended stop-loss: $5.17 (-5.68%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 7 days ago.)

Trading Expectations (MYNA) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Mynaric AG to open at $5.28, and during the day (based on 14 day Average True Range), to move between $5.09 and $5.87, which gives a possible trading interval of +/-$0.387 (+/-7.07%) up or down from last closing price. If Mynaric AG takes out the full calculated possible swing range there will be an estimated 14.13% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $5.56 (1.46%) than the support at $4.96 (9.49%), 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 Mynaric AG stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Mynaric AG stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 3.256 Buy Candidate Upgraded

Predicted Opening Price for Mynaric AG of Tuesday, May 7, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.