Bit2Me USD Stock Forecast

Bit2Me USD stock downgraded from Hold/Accumulate to Sell Candidate after Monday trading session.
(Updated on Jun 24, 2024)

B2MUSD Signals & Forecast

There are few to no technical positive signals at the moment. The Bit2Me 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 $0.0083 and $0.0086. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Saturday, June 22, 2024, and so far it has fallen -1.21%. Further fall is indicated until a new bottom pivot has been found. 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 Bit2Me USD stock

Bit2Me USD finds support from accumulated volume at $0.0082 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 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 stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.772%

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

Trading Expectations (B2MUSD) For The Upcoming Trading Day Of Tuesday 25th

For the upcoming trading day on Tuesday, 25th we expect Bit2Me USD to open at $0.0083, and during the day (based on 14 day Average True Range), to move between $0.0081 and $0.0084, which gives a possible trading interval of +/-$0.0002 (+/-2.04%) up or down from last closing price. If Bit2Me USD takes out the full calculated possible swing range there will be an estimated 4.07% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0082 (0.29%) than the resistance at $0.0090 (9.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Bit2Me USD stock A Buy?

Bit2Me USD holds several negative signals and is within a 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. 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: -2.092 Sell Candidate Downgraded

Predicted Opening Price for Bit2Me USD of Tuesday, June 25, 2024

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