21shares Bitcoin Cash Etp ETF Forecast
Green day on Friday for 21shares Bitcoin Cash Etp ETF after gaining 2.44%
(Updated on Jun 28, 2024)
The 21shares Bitcoin Cash Etp ETF price gained 2.44% on the last trading day (Friday, 28th Jun 2024), rising from 16.48 Fr to 16.88 Fr. During the last trading day the ETF fluctuated 0.333% from a day low at 16.83 Fr to a day high of 16.89 Fr. The price has fallen in 4 of the last 10 days and is down by -9.34% for this period. Volume fell on the last day by -935 shares and in total, 310 shares were bought and sold for approximately 5.23 Fr thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -23.97% during the next 3 months and, with a 90% probability hold a price between 10.74 Fr and 13.97 Fr 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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ABCH.SW Signals & Forecast
There are mixed signals in the ETF today. The 21shares Bitcoin Cash Etp ETF 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 ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at 18.60 Fr. On a fall, the ETF will find some support from the short-term average at 16.22 Fr. 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, June 24, 2024, and so far it has risen 11.85%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for 21shares Bitcoin Cash Etp ETF
21shares Bitcoin Cash Etp finds support from accumulated volume at 16.51 Fr and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF may move much during the day (volatility) and with periodic low trading volume this ETF is considered to be "high risk". During the last day, the ETF moved 0.0560 Fr between high and low, or 0.333%. For the last week the ETF has had daily average volatility of 3.65%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ABCH.SW) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect 21shares Bitcoin Cash Etp to open at 16.87 Fr, and during the day (based on 14 day Average True Range), to move between 16.09 Fr and 17.67 Fr, which gives a possible trading interval of +/-0.786 Fr (+/-4.66%) up or down from last closing price. If 21shares Bitcoin Cash Etp takes out the full calculated possible swing range there will be an estimated 9.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 16.51 Fr (2.19%) than the resistance at 19.51 Fr (15.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is 21shares Bitcoin Cash Etp ETF A Buy?
21shares Bitcoin Cash Etp 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 ETF.
Current score: -1.537 Sell Candidate Unchanged
Predicted Opening Price for 21shares Bitcoin Cash Etp of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| 16.87 Fr ( 0.0711%) | 16.88 Fr |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ABCH.SW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.92 | 0.261% |
| R2 | 16.90 | 0.134% |
| R1 | 16.89 | 0.0556% |
| Price | 16.88 | |
| S1 | 16.85 | -0.198% |
| S2 | 16.83 | -0.276% |
| S3 | 16.81 | -0.403% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.80 | 23.19% |
| R2 | 19.83 | 17.50% |
| R1 | 19.51 | 15.56% |
| Price | 16.88 | |
| S1 | 16.51 | -2.19% |
| S2 | 15.90 | -5.81% |
| S3 | 15.09 | -10.59% |
FAQ
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