Aytu Bioscience Stock Forecast

Green day on Thursday for Aytu Bioscience
(Updated on Apr 25, 2024)

AYTU Signals & Forecast

There are mixed signals in the stock today. The Aytu Bioscience 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 $3.00. On a fall, the stock will find some support from the short-term average at $2.80. 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. 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. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 5.97%. Further rise is indicated until a new top pivot has been found.

Support, Risk & Stop-loss for Aytu Bioscience stock

Aytu Bioscience finds support from accumulated volume at $2.80 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 $0.154 between high and low, or 5.67%. For the last week the stock has had daily average volatility of 5.06%.

Our recommended stop-loss: $2.72 (-4.35%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (AYTU) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Aytu Bioscience to open at $2.81, and during the day (based on 14 day Average True Range), to move between $2.67 and $3.01, which gives a possible trading interval of +/-$0.166 (+/-5.84%) up or down from last closing price. If Aytu Bioscience takes out the full calculated possible swing range there will be an estimated 11.68% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $2.80 (1.41%) than the resistance at $2.89 (1.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Aytu Bioscience stock A Buy?

Aytu Bioscience 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: -0.062 Hold/Accumulate Unchanged

Predicted Opening Price for Aytu Bioscience of Friday, April 26, 2024

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