Will cing stock go up or down after market open ?

Cingulate's stock (CING) is likely to face downward pressure after market open on August 15, 2024, based on the following analysis:

1. Technical Indicators Suggest Downward Pressure:
   • The Relative Strength Index (RSI) is at 19.99, which is close to the oversold threshold of 20. This suggests that the stock may be under selling pressure.
   • The Moving Average Convergence Divergence (MACD) is negative at -0.19, indicating a potential downward momentum.
   • The stock is trading below both the 5-day and 10-day moving averages, which typically indicates a bearish trend.

2. Recent Patent Grant Positives: While the issuance of a European patent for CTx-1301 is a positive development, it may not have an immediate impact on the stock price. Patent grants are a long-term strategic benefit that may not influence short-term market movements.
3. Market Sentiment and Recent Performance: The stock has experienced a significant decline of 97.9% year-to-date as of the last close. The recent rise in stock price following the patent announcement is modest compared to the overall decline, and it may not be sufficient to change the bearish market sentiment.
4. Trading Volume and Percentage Change: The trading volume was 104,527 shares with a percentage change of -18%. This indicates a high level of selling activity, which is a bearish signal.

5. Fund Flow: The net fund flow was negative at -$4,518.79, which typically indicates a lack of investor confidence and can lead to downward pressure on the stock price.

In conclusion, while the patent grant is a positive development for Cingulate's long-term prospects, the current technical indicators and market sentiment suggest that the stock is likely to face downward pressure after market open on August 15, 2024.