ARS/PEN Currency Pair Forecast

ARS/PEN currency pair upgraded from Strong Sell Candidate to Sell Candidate after Monday trading session.
(Updated on Jun 17, 2024)

ARSPEN Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 0.112%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ARS/PEN currency pair holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0029 and $0.0396. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for ARS/PEN currency pair

ARS/PEN finds support from accumulated volume at $0.0027 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the currency pair tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the currency pair During the last day, the currency pair moved $0 between high and low, or 0%. For the last week the currency pair has had daily average volatility of 0.164%

ARS/PEN is oversold on RSI14 (3). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ARSPEN) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect ARS/PEN to open at $0.0027, and during the day (based on 14 day Average True Range), to move between -$0.0088 and $0.0142, which gives a possible trading interval of +/-$0.0115 (+/-429.61%) up or down from last closing price. If ARS/PEN takes out the full calculated possible swing range there will be an estimated 859.21% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0027 (0.11%) than the support at $0.0027 (0.11%), 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 ARS/PEN currency pair A Buy?

The ARS/PEN currency pair holds several negative signals and despite the positive trend, we believe ARS/PEN will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this currency pair. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -3.549 Sell Candidate Upgraded

Predicted Opening Price for ARS/PEN of Tuesday, June 18, 2024

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