Palladyne AI Corp. Stock Forecast
Palladyne AI Corp. stock price up 0.613% on Tuesday
(Updated on Jun 25, 2024)
The Palladyne AI Corp. stock price gained 0.613% on the last trading day (Tuesday, 25th Jun 2024), rising from $1.63 to $1.64. During the last trading day the stock fluctuated 5.81% from a day low at $1.55 to a day high of $1.64. The price has been going up and down for this period, and there has been a -7.87% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 52 thousand more shares were traded than the day before. In total, 97 thousand shares were bought and sold for approximately $159.82 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 -6.79% during the next 3 months and, with a 90% probability hold a price between $1.11 and $2.31 at the end of this 3-month period.
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PDYN Signals & Forecast
Palladyne AI Corp. 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. The Palladyne AI Corp. 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 $1.67 and $1.70. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -21.53%. 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 Palladyne AI Corp. stock
Palladyne AI Corp. finds support from accumulated volume at $1.60 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0900 between high and low, or 5.81%. For the last week, the stock has had daily average volatility of 11.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PDYN) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Palladyne AI Corp. to open at $1.61, and during the day (based on 14 day Average True Range), to move between $1.44 and $1.84, which gives a possible trading interval of +/-$0.202 (+/-12.31%) up or down from last closing price. If Palladyne AI Corp. takes out the full calculated possible swing range there will be an estimated 24.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.60 (2.44%) than the resistance at $1.77 (7.93%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Palladyne AI Corp. stock A Buy?
Palladyne AI Corp. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.517 Sell Candidate Unchanged
Predicted Opening Price for Palladyne AI Corp. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $1.61 ( 1.83%) | $1.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PDYN
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.70 | 3.66% |
| R2 | 1.67 | 1.56% |
| R1 | 1.64 | 0.267% |
| Price | 1.64 | |
| S1 | 1.58 | -3.93% |
| S2 | 1.55 | -5.22% |
| S3 | 1.52 | -7.32% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.98 | 20.73% |
| R2 | 1.96 | 19.51% |
| R1 | 1.77 | 7.93% |
| Price | 1.64 | |
| S1 | 1.60 | -2.44% |
| S2 | 1.34 | -18.29% |
| S3 | 1.32 | -19.51% |
FAQ
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