Luna Innovations Incorporated Stock Forecast
Luna Innovations Incorporated stock price ended at $2.80 on Tuesday, after losing 2.10%.
(Updated on May 07, 2024)
The Luna Innovations Incorporated stock price fell by -2.10% on the last day (Tuesday, 7th May 2024) from $2.86 to $2.80. During the last trading day the stock fluctuated 7.21% from a day low at $2.71 to a day high of $2.90. The price has fallen in 5 of the last 10 days but is still up by 25.9% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -737 thousand shares and in total, 459 thousand shares were bought and sold for approximately $1.28 million.
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 $2.85 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 -69.47% during the next 3 months and, with a 90% probability hold a price between $0.348 and $0.87 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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LUNA Signals & Forecast
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. The Luna Innovations Incorporated 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 $2.83. On a fall, the stock will find some support from the short-term average at $2.48. 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 Friday, May 03, 2024, and so far it has fallen -8.66%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Luna Innovations Incorporated stock
Luna Innovations Incorporated finds support from accumulated volume at $2.77 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.195 between high and low, or 7.21%. For the last week the stock has had daily average volatility of 18.25%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LUNA) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Luna Innovations Incorporated to open at $2.80, and during the day (based on 14 day Average True Range), to move between $2.49 and $3.10, which gives a possible trading interval of +/-$0.304 (+/-10.86%) up or down from last closing price. If Luna Innovations Incorporated takes out the full calculated possible swing range there will be an estimated 21.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.77 (0.89%) than the resistance at $2.86 (2.15%), 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
Luna Innovations Incorporated will release earnings BMO on Tuesday, May 14, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0200. We will update the financials statements for Luna Innovations Incorporated, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.85% in the first trading day after earnings release.
Is Luna Innovations Incorporated stock A Buy?
Luna Innovations Incorporated holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.506 Sell Candidate Unchanged
Predicted Opening Price for Luna Innovations Incorporated of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $2.80 ( 0.179%) | $2.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LUNA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.00 | 7.16 % | |
| R2 | 2.92 | 4.49 % | ||
| R1 | 2.87 | 2.84 % | ||
| Current price: | 2.80 | |||
| Support | S1 | 2.73 | -2.49 % | |
| S2 | 2.68 | -4.13 % | ||
| S3 | 2.61 | -6.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.06 | 9.48 % | |
| R2 | 3.03 | 8.41 % | ||
| R1 | 2.86 | 2.15 % | ||
| Current price | 2.80 | |||
| Support | S1 | 2.77 | -0.89% | |
| S2 | 2.76 | -1.25% | ||
| S3 | 2.42 | -13.42% |
FAQ
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