High volatility in Bluesky Digital Assets Corp. stock price on Monday which ended trading at $0.393

The Bluesky Digital Assets Corp. stock price gained 51.04% on the last trading day (Monday, 18th Nov 2024), rising from $0.260 to $0.393. During the last trading day the stock fluctuated 97.88% from a day low at $0.250 to a day high of $0.495. The price has risen in 7 of the last 10 days and is up by 1022% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 million more shares were traded than the day before. In total, 10 million shares were bought and sold for approximately $4.02 million.

The stock lies in the upper part of a very wide and strong rising 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 $0.477 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 25.28% during the next 3 months and, with a 90% probability hold a price between $0.0547 and $0.598 at the end of this 3-month period.

The Bluesky Digital Assets Corp. 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 $0.217 and $0.0667. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, November 14, 2024, and so far it has fallen -17.15%. Further fall is indicated until a new bottom pivot has been found.

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 $0.245 between high and low, or 97.88%. For the last week, the stock has had daily average volatility of 119.64%.

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 Bluesky Digital Assets Corp. stock to perform well in the short-term.