Vyne Therapeutics Inc Stock Forecast
Stronger technical forecast for Vyne Therapeutics Inc stock price after Friday trading.
(Updated on Apr 26, 2024)
The Vyne Therapeutics Inc stock price gained 1.21% on the last trading day (Friday, 26th Apr 2024), rising from $2.47 to $2.50. During the last trading day the stock fluctuated 4.55% from a day low at $2.42 to a day high of $2.53. The price has fallen in 7 of the last 10 days and is down by -9.75% for this period. Volume fell on the last day by -61 thousand shares and in total, 16 thousand shares were bought and sold for approximately $39.62 thousand. 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 in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 30.45% during the next 3 months and, with a 90% probability hold a price between $2.96 and $4.32 at the end of this 3-month period.
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VYNE Signals & Forecast
There are few to no technical positive signals at the moment. The Vyne Therapeutics Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $2.51. On a fall, the stock will find some support from the short-term average at $2.39. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -19.35%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Vyne Therapeutics Inc stock
Vyne Therapeutics Inc finds support from accumulated volume at $2.47 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 $0.110 between high and low, or 4.55%. For the last week the stock has had daily average volatility of 10.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VYNE) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Vyne Therapeutics Inc to open at $2.48, and during the day (based on 14 day Average True Range), to move between $2.27 and $2.73, which gives a possible trading interval of +/-$0.233 (+/-9.31%) up or down from last closing price. If Vyne Therapeutics Inc takes out the full calculated possible swing range there will be an estimated 18.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.47 (1.20%) than the resistance at $2.57 (2.80%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Vyne Therapeutics Inc stock A Buy?
The Vyne Therapeutics Inc stock holds several negative signals and despite the positive trend, we believe Vyne Therapeutics Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.998 Sell Candidate Upgraded
Predicted Opening Price for Vyne Therapeutics Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $2.48 ( 0.667%) | $2.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VYNE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.59 | 3.73 % | |
| R2 | 2.55 | 2.05 % | ||
| R1 | 2.53 | 1.01 % | ||
| Current price: | 2.50 | |||
| Support | S1 | 2.44 | -2.35 % | |
| S2 | 2.42 | -3.39 % | ||
| S3 | 2.37 | -5.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.96 | 18.40 % | |
| R2 | 2.84 | 13.60 % | ||
| R1 | 2.57 | 2.80 % | ||
| Current price | 2.50 | |||
| Support | S1 | 2.47 | -1.20% | |
| S2 | 2.35 | -6.00% | ||
| S3 | 2.10 | -16.00% |
FAQ
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