Athena Bitcoin Global Stock Forecast
Big movements in Athena Bitcoin Global stock price on Wednesday moving 133.95% between high and low
(Updated on Jun 26, 2024)
The Athena Bitcoin Global stock price fell by -15.00% on the last day (Wednesday, 26th Jun 2024) from $0.100 to $0.0850. During the last trading day the stock fluctuated 133.95% from a day low at $0.0810 to a day high of $0.190. The price has risen in 6 of the last 10 days and is up by 6.38% over the past 2 weeks. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $136.88 thousand.
The stock 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 stock is expected to fall -34.93% during the next 3 months and, with a 90% probability hold a price between $0.0205 and $0.0831 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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ABIT Signals & Forecast
The Athena Bitcoin Global stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.0914. On a fall, the stock will find some support from the long-term average at approximately $0.0838. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -56.19%. Further fall is indicated until a new bottom pivot has been found. Athena Bitcoin Global gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Athena Bitcoin Global stock
Athena Bitcoin Global finds support from accumulated volume at $0.0840 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.109 between high and low, or 133.95%. For the last week, the stock has had daily average volatility of 44.55%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ABIT) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Athena Bitcoin Global to open at $0.119, and during the day (based on 14 day Average True Range), to move between $0.0648 and $0.105, which gives a possible trading interval of +/-$0.0202 (+/-23.76%) up or down from last closing price. If Athena Bitcoin Global takes out the full calculated possible swing range there will be an estimated 47.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0840 (1.18%) than the resistance at $0.0900 (5.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Athena Bitcoin Global stock A Buy?
Athena Bitcoin Global 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.883 Sell Candidate Downgraded
Predicted Opening Price for Athena Bitcoin Global of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $0.119 ( 39.41%) | $0.0850 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ABIT
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.227 | 167.06% |
| R2 | 0.186 | 118.30% |
| R1 | 0.160 | 88.17% |
| Price | 0.0850 | |
| S1 | 0.0771 | -9.35% |
| S2 | 0.0514 | -39.47% |
| S3 | 0.0100 | -88.24% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.103 | 20.87% |
| R2 | 0.100 | 17.65% |
| R1 | 0.0900 | 5.88% |
| Price | 0.0850 | |
| S1 | 0.0840 | -1.18% |
| S2 | 0.0800 | -5.88% |
| S3 | 0.0715 | -15.88% |
FAQ
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