Avidax Finance USD Stock Forecast
Red day on Friday for Avidax Finance USD stock after losing 1.39%
(Updated on Jun 28, 2024)
The Avidax Finance USD stock price fell by -1.39% on the last day (Friday, 28th Jun 2024) from $0.0030 to $0.0029. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 5.84% from a day low at $0.0029 to a day high of $0.0031. The price has fallen in 8 of the last 10 days and is down by -15.27% for this period. Volume has increased on the last day by 6 thousand 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, 32 thousand shares were bought and sold for approximately $93.36 .
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 -18.90% during the next 3 months and, with a 90% probability hold a price between $0.0011 and $0.0042 at the end of this 3-month period.
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AVIUSD Signals & Forecast
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 Avidax Finance USD stock 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 $0.0041. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Sunday, May 26, 2024, and so far it has fallen -48.07%. Further fall is indicated until a new bottom pivot has been found. Avidax Finance USD 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Avidax Finance USD stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0026 and $0.0025. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Avidax Finance USD finds support just below today's level at $0.0026. If this is broken, then the next support from accumulated volume will be at $0.0025 and $0.0023.
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 $0.0002 between high and low, or 5.84%. For the last week, the stock has had daily average volatility of 6.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AVIUSD) For The Upcoming Trading Day Of Saturday 29th
For the upcoming trading day on Saturday, 29th we expect Avidax Finance USD to open at $0.0029, and during the day (based on 14 day Average True Range), to move between $0.0026 and $0.0032, which gives a possible trading interval of +/-$0.0003 (+/-9.41%) up or down from last closing price. If Avidax Finance USD takes out the full calculated possible swing range there will be an estimated 18.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0026 (10.76%) than the resistance at $0.0035 (19.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Avidax Finance USD stock A Buy?
Avidax Finance USD holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.168 Sell Candidate Unchanged
Predicted Opening Price for Avidax Finance USD of Saturday, June 29, 2024
| Fair opening price June 29, 2024 | Current price |
|---|---|
| $0.0029 ( 1.32%) | $0.0029 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AVIUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0031 | 7.11% |
| R2 | 0.0031 | 4.90% |
| R1 | 0.0030 | 3.53% |
| Price | 0.0029 | |
| S1 | 0.0029 | -0.89% |
| S2 | 0.0028 | -2.26% |
| S3 | 0.0028 | -4.47% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0036 | 23.47% |
| R2 | 0.0036 | 22.05% |
| R1 | 0.0035 | 19.62% |
| Price | 0.0029 | |
| S1 | 0.0026 | -10.76% |
| S2 | 0.0025 | -13.77% |
| S3 | 0.0023 | -20.88% |
FAQ
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