Bonorum USD Stock Forecast
Bonorum USD stock downgraded to Sell Candidate
(Updated on Jun 25, 2024)
The Bonorum USD stock price gained 0.383% on the last trading day (Tuesday, 25th Jun 2024), rising from $0.622 to $0.624. During the last trading day the stock fluctuated 0.699% from a day low at $0.621 to a day high of $0.626. The price has been going up and down for this period, and there has been a -4.04% loss for the last 2 weeks.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $0.611 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Bonorum USD stock with a 90% probability to be traded between $0.618 and $0.712 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BONOUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 0.383%. 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 Bonorum 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 $0.645 and $0.663. 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 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 Bonorum USD stock
Bonorum USD finds support from accumulated volume at $0.622 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 $0.0043 between high and low, or 0.699%. For the last week the stock has had daily average volatility of 1.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BONOUSD) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Bonorum USD to open at $0.624, and during the day (based on 14 day Average True Range), to move between $0.608 and $0.640, which gives a possible trading interval of +/-$0.0161 (+/-2.58%) up or down from last closing price. If Bonorum USD takes out the full calculated possible swing range there will be an estimated 5.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.622 (0.31%) than the resistance at $0.666 (6.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bonorum USD stock A Buy?
Bonorum 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: -2.606 Sell Candidate Downgraded
Predicted Opening Price for Bonorum USD of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.624 ( 0.0673%) | $0.624 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BONOUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.628 | 0.628% |
| R2 | 0.626 | 0.363% |
| R1 | 0.625 | 0.198% |
| Price | 0.624 | |
| S1 | 0.622 | -0.333% |
| S2 | 0.621 | -0.497% |
| S3 | 0.619 | -0.763% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.668 | 7.02% |
| R2 | 0.668 | 7.00% |
| R1 | 0.666 | 6.67% |
| Price | 0.624 | |
| S1 | 0.622 | -0.313% |
| S2 | 0.617 | -1.15% |
| S3 | 0.607 | -2.74% |
FAQ
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