Tyra Biosciences, Inc. Stock Forecast
Tyra Biosciences, Inc. stock price up 0.502% on Wednesday
(Updated on May 08, 2024)
The Tyra Biosciences, Inc. stock price gained 0.502% on the last trading day (Wednesday, 8th May 2024), rising from $17.94 to $18.03. During the last trading day the stock fluctuated 5.83% from a day low at $17.25 to a day high of $18.26. The price has risen in 7 of the last 10 days and is up by 12.69% over the past 2 weeks. Volume fell on the last day by -242 thousand shares and in total, 66 thousand shares were bought and sold for approximately $1.19 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $18.29 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -16.85% during the next 3 months and, with a 90% probability hold a price between $11.26 and $15.21 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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TYRA Signals & Forecast
The Tyra Biosciences, 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 $18.01 and $16.50. 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 Thursday, May 02, 2024, and so far it has fallen -2.70%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Tyra Biosciences, Inc. stock
Tyra Biosciences, Inc. finds support from accumulated volume at $17.94 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 $1.01 between high and low, or 5.83%. For the last week the stock has had daily average volatility of 6.67%.
Our recommended stop-loss: $17.32 (-3.94%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (TYRA) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Tyra Biosciences, Inc. to open at $17.85, and during the day (based on 14 day Average True Range), to move between $16.99 and $19.07, which gives a possible trading interval of +/-$1.04 (+/-5.77%) up or down from last closing price. If Tyra Biosciences, Inc. takes out the full calculated possible swing range there will be an estimated 11.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $17.94 (0.50%) than the resistance at $18.29 (1.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Tyra Biosciences, Inc. will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.460. We will update the financials statements for Tyra Biosciences, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.76% in the first trading day after earnings release.
Is Tyra Biosciences, Inc. stock A Buy?
Tyra Biosciences, Inc. 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: -0.250 Hold/Accumulate Unchanged
Predicted Opening Price for Tyra Biosciences, Inc. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $17.85 ( 1.03%) | $18.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TYRA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.85 | 4.55 % | |
| R2 | 18.47 | 2.42 % | ||
| R1 | 18.23 | 1.10 % | ||
| Current price: | 18.03 | |||
| Support | S1 | 17.46 | -3.16 % | |
| S2 | 17.22 | -4.47 % | ||
| S3 | 16.84 | -6.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.50 | 8.15 % | |
| R2 | 19.38 | 7.49 % | ||
| R1 | 18.29 | 1.44 % | ||
| Current price | 18.03 | |||
| Support | S1 | 17.94 | -0.499% | |
| S2 | 17.50 | -2.94% | ||
| S3 | 16.30 | -9.60% |
FAQ
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