Neonode Inc. Stock Forecast
Neonode Inc. stock price down 2.94% on Wednesday
(Updated on Apr 24, 2024)
The Neonode Inc. stock price fell by -2.94% on the last day (Wednesday, 24th Apr 2024) from $1.70 to $1.65. During the last trading day the stock fluctuated 4.31% from a day low at $1.62 to a day high of $1.69. The price has fallen in 6 of the last 10 days but is still up by 13.79% over the past 2 weeks. 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 -71 thousand shares and in total, 23 thousand shares were bought and sold for approximately $38.39 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 -11.40% during the next 3 months and, with a 90% probability hold a price between $1.01 and $1.69 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
NEON Signals & Forecast
The Neonode Inc. 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 $1.64 and $1.42. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, April 22, 2024, and so far it has fallen -13.61%. Further fall is indicated until a new bottom pivot has been found. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Neonode Inc. stock
Neonode Inc. finds support from accumulated volume at $1.63 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 $0.0699 between high and low, or 4.31%. For the last week the stock has had daily average volatility of 14.61%.
Our recommended stop-loss: $1.55 (-5.76%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (NEON) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Neonode Inc. to open at $1.65, and during the day (based on 14 day Average True Range), to move between $1.52 and $1.78, which gives a possible trading interval of +/-$0.133 (+/-8.07%) up or down from last closing price. If Neonode Inc. takes out the full calculated possible swing range there will be an estimated 16.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.63 (1.21%) than the resistance at $1.70 (3.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Neonode Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.404 Buy Candidate Unchanged
Predicted Opening Price for Neonode Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $1.65 ( 0.204%) | $1.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NEON
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.72 | 4.44 % | |
| R2 | 1.70 | 2.82 % | ||
| R1 | 1.68 | 1.82 % | ||
| Current price: | 1.65 | |||
| Support | S1 | 1.63 | -1.41 % | |
| S2 | 1.61 | -2.41 % | ||
| S3 | 1.58 | -4.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.91 | 15.76 % | |
| R2 | 1.80 | 9.09 % | ||
| R1 | 1.70 | 3.03 % | ||
| Current price | 1.65 | |||
| Support | S1 | 1.63 | -1.21% | |
| S2 | 1.55 | -6.06% | ||
| S3 | 1.37 | -16.97% |
FAQ
Click here for our free guide on how to buy Neonode Inc. Stock.
