WaveDancer, Inc. Stock Forecast

High volatility in WaveDancer, Inc. stock price on Friday which ended trading at $1.94
(Updated on Apr 19, 2024)

WAVD Signals & Forecast

There are few to no technical positive signals at the moment. The WaveDancer, Inc. 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 $2.13 and $2.73. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -46.11%. 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). WaveDancer, Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for WaveDancer, Inc. stock

WaveDancer, Inc. finds support from accumulated volume at $1.89 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.230 between high and low, or 12.30%. For the last week, the stock has had daily average volatility of 21.14%.

WaveDancer, Inc. is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (WAVD) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect WaveDancer, Inc. to open at $1.97, and during the day (based on 14 day Average True Range), to move between $1.53 and $2.35, which gives a possible trading interval of +/-$0.408 (+/-21.04%) up or down from last closing price. If WaveDancer, Inc. takes out the full calculated possible swing range there will be an estimated 42.08% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $1.96 (1.03%) than the support at $1.89 (2.58%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is WaveDancer, Inc. stock A Buy?

The WaveDancer, Inc. stock holds several negative signals and despite the positive trend, we believe WaveDancer, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -1.272 Sell Candidate Unchanged

Predicted Opening Price for WaveDancer, Inc. of Monday, April 22, 2024

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