Palladyne AI Corp. Stock Forecast

Big movements in Palladyne AI Corp. stock price on Friday moving 12.78% between high and low
(Updated on Jun 14, 2024)

PDYN Signals & Forecast

The Palladyne AI Corp. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $1.86. On a fall, the stock will find some support from the long-term average at approximately $1.65. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 08, 2024, and so far it has fallen -30.42%. 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). 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.

Support, Risk & Stop-loss for Palladyne AI Corp. stock

Palladyne AI Corp. finds support from accumulated volume at $1.77 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 $0.220 between high and low, or 12.78%. For the last week the stock has had daily average volatility of 12.62%.

Our recommended stop-loss: $1.72 (-6.08%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 64 days ago.)

Trading Expectations (PDYN) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect Palladyne AI Corp. to open at $1.83, and during the day (based on 14 day Average True Range), to move between $1.61 and $2.05, which gives a possible trading interval of +/-$0.218 (+/-11.93%) up or down from last closing price. If Palladyne AI Corp. takes out the full calculated possible swing range there will be an estimated 23.86% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $1.77 (3.28%) than the resistance at $1.96 (7.10%), 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 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.

Current score: -0.875 Hold/Accumulate Unchanged

Predicted Opening Price for Palladyne AI Corp. of Monday, June 17, 2024

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