Axis DeFi USD Stock Forecast
Red day on Friday for Axis DeFi USD
(Updated on Jun 28, 2024)
The Axis DeFi USD stock price fell by -0.104% on the last day (Friday, 28th Jun 2024) from $0.0623 to $0.0622. During the last trading day the stock fluctuated 0.632% from a day low at $0.0620 to a day high of $0.0624. The price has risen in 7 of the last 10 days but is still down by -1.29% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 thousand shares and in total, 24 thousand shares were bought and sold for approximately $1.50 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 -35.63% during the next 3 months and, with a 90% probability hold a price between $0.0365 and $0.0482 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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AXISUSD Signals & Forecast
There are mixed signals in the stock today. The Axis DeFi 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 $0.0629 and $0.0662. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. 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 Sunday, June 16, 2024, and so far it has risen 0.171%. 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).
Support, Risk & Stop-loss for Axis DeFi USD stock
Axis DeFi USD finds support from accumulated volume at $0.0622 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0004 between high and low, or 0.632%. For the last week the stock has had daily average volatility of 1.17%.
Our recommended stop-loss: $0.0585 (-6.05%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 92 days ago.)
Trading Expectations (AXISUSD) For The Upcoming Trading Day Of Saturday 29th
For the upcoming trading day on Saturday, 29th we expect Axis DeFi USD to open at $0.0622, and during the day (based on 14 day Average True Range), to move between $0.0604 and $0.0641, which gives a possible trading interval of +/-$0.0019 (+/-2.99%) up or down from last closing price. If Axis DeFi USD takes out the full calculated possible swing range there will be an estimated 5.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0623 (0.10%) than the support at $0.0622 (0.14%), 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 Axis DeFi USD stock A Buy?
Axis DeFi USD holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.401 Hold/Accumulate Unchanged
Predicted Opening Price for Axis DeFi USD of Saturday, June 29, 2024
| Fair opening price June 29, 2024 | Current price |
|---|---|
| $0.0622 ( 0.0407%) | $0.0622 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AXISUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0626 | 0.589% |
| R2 | 0.0625 | 0.348% |
| R1 | 0.0624 | 0.200% |
| Price | 0.0622 | |
| S1 | 0.0621 | -0.281% |
| S2 | 0.0620 | -0.430% |
| S3 | 0.0618 | -0.670% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0710 | 14.14% |
| R2 | 0.0683 | 9.72% |
| R1 | 0.0623 | 0.104% |
| Price | 0.0622 | |
| S1 | 0.0622 | -0.137% |
| S2 | 0.0621 | -0.170% |
| S3 | 0 | - |
FAQ
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