Aldeyra Therapeutics Stock Forecast
Red day on Thursday for Aldeyra Therapeutics
(Updated on Apr 25, 2024)
No changes to the price of Aldeyra Therapeutics stock on the last trading day (Thursday, 25th Apr 2024). During the last trading day the stock fluctuated 4.79% from a day low at $3.86 to a day high of $4.05. The price has fallen in 5 of the last 10 days and is down by -10.45% for this period.
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 19.58% during the next 3 months and, with a 90% probability hold a price between $3.74 and $5.86 at the end of this 3-month period.
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ALDX Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -16.53%. 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). Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days. The Aldeyra Therapeutics 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 $3.93 and $3.61. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Aldeyra Therapeutics stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.62 and $3.55. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Aldeyra Therapeutics finds support just below today's level at $3.62. If this is broken, then the next support from accumulated volume will be at $3.55 and $3.27.
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 $0.185 between high and low, or 4.79%. For the last week, the stock has had daily average volatility of 5.28%.
Our recommended stop-loss: $3.69 (-6.46%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (ALDX) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Aldeyra Therapeutics to open at $3.95, and during the day (based on 14 day Average True Range), to move between $3.67 and $4.21, which gives a possible trading interval of +/-$0.272 (+/-6.90%) up or down from last closing price. If Aldeyra Therapeutics takes out the full calculated possible swing range there will be an estimated 13.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.15 (5.33%) than the support at $3.62 (8.12%), 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.
Earnings coming up
Aldeyra Therapeutics will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0800. We will update the financials statements for Aldeyra Therapeutics, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.13% in the first trading day after earnings release.
Is Aldeyra Therapeutics stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Aldeyra Therapeutics stock to perform well in the short-term.
Current score: 1.717 Buy Candidate Unchanged
Predicted Opening Price for Aldeyra Therapeutics of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $3.95 ( 0.212%) | $3.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALDX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.13 | 4.91 % | |
| R2 | 4.06 | 3.11 % | ||
| R1 | 4.02 | 2.01 % | ||
| Current price: | 3.94 | |||
| Support | S1 | 3.88 | -1.58 % | |
| S2 | 3.83 | -2.69 % | ||
| S3 | 3.76 | -4.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.72 | 19.80 % | |
| R2 | 4.69 | 18.91 % | ||
| R1 | 4.15 | 5.33 % | ||
| Current price | 3.94 | |||
| Support | S1 | 3.62 | -8.12% | |
| S2 | 3.55 | -9.90% | ||
| S3 | 3.27 | -17.01% |
FAQ
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