Afreum USD Stock Forecast

Afreum USD stock upgraded from Sell Candidate to Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)

AFRUSD Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 2.53%. Further rise is indicated until a new top pivot has been found. 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 Afreum USD 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 $0.0013. On a fall, the stock will find some support from the short-term average at $0.0012. 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. 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.

Support, Risk & Stop-loss for Afreum USD stock

Afreum USD finds support from accumulated volume at $0.0012 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.000031 between high and low, or 2.71%. For the last week the stock has had daily average volatility of 3.38%.

Our recommended stop-loss: $0.0011 (-4.37%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 45 days ago.)

Trading Expectations (AFRUSD) For The Upcoming Trading Day Of Saturday 29th

For the upcoming trading day on Saturday, 29th we expect Afreum USD to open at $0.0012, and during the day (based on 14 day Average True Range), to move between $0.0011 and $0.0012, which gives a possible trading interval of +/-$0.00007404 (+/-6.31%) up or down from last closing price. If Afreum USD takes out the full calculated possible swing range there will be an estimated 12.62% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0012 (0.51%) than the support at $0.0012 (0.60%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Afreum USD stock A Buy?

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 Afreum USD stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.422 Buy Candidate Upgraded

Predicted Opening Price for Afreum USD of Saturday, June 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.