Bata USD Cryptocurrency Forecast

Bata USD cryptocurrency upgraded from Hold/Accumulate to Buy Candidate after Saturday trading session.
(Updated on May 18, 2024)

BTAUSD Signals & Forecast

The Bata USD cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.208 and $0.204. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -61.25%. Further fall is indicated until a new bottom pivot has been found. 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 Bata USD cryptocurrency

Bata USD finds support from accumulated volume at $0.214 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This cryptocurrency has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the cryptocurrency moved $0.0021 between high and low, or 1.00%. For the last week the cryptocurrency has had daily average volatility of 3.13%.

Our recommended stop-loss: $0.204 (-5.28%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 71 days ago.)

Trading Expectations (BTAUSD) For The Upcoming Trading Day Of Sunday 19th

For the upcoming trading day on Sunday, 19th we expect Bata USD to open at $0.216, and during the day (based on 14 day Average True Range), to move between $0.208 and $0.223, which gives a possible trading interval of +/-$0.0073 (+/-3.38%) up or down from last closing price. If Bata USD takes out the full calculated possible swing range there will be an estimated 6.77% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.214 (0.61%) than the resistance at $0.221 (2.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Bata USD cryptocurrency A Buy?

Bata 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. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.000 Buy Candidate Upgraded

Predicted Opening Price for Bata USD of Sunday, May 19, 2024

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