Bitdeer Technologies Group Stock Forecast
High volatility in Bitdeer Technologies Group stock price on Tuesday which ended trading at $5.49
(Updated on Apr 30, 2024)
The Bitdeer Technologies Group stock price fell by -8.96% on the last day (Tuesday, 30th Apr 2024) from $6.03 to $5.49. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 10.42% from a day low at $5.47 to a day high of $6.04. The price has been going up and down for this period, and there has been a 1.29% gain for the last 2 weeks. Volume has increased on the last day by 126 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, 826 thousand shares were bought and sold for approximately $4.53 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $5.16 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -17.74% during the next 3 months and, with a 90% probability hold a price between $4.24 and $6.25 at the end of this 3-month period.
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BTDR 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 Bitdeer Technologies Group 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 $6.31 and $6.70. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -18.18%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Bitdeer Technologies Group stock
Bitdeer Technologies Group finds support from accumulated volume at $5.42 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.570 between high and low, or 10.42%. For the last week, the stock has had daily average volatility of 6.91%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BTDR) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Bitdeer Technologies Group to open at $5.67, and during the day (based on 14 day Average True Range), to move between $4.92 and $6.06, which gives a possible trading interval of +/-$0.566 (+/-10.31%) up or down from last closing price. If Bitdeer Technologies Group takes out the full calculated possible swing range there will be an estimated 20.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.42 (1.28%) than the resistance at $6.33 (15.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bitdeer Technologies Group stock A Buy?
Bitdeer Technologies Group 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: -6.921 Strong Sell Candidate Unchanged
Predicted Opening Price for Bitdeer Technologies Group of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $5.67 ( 3.22%) | $5.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BTDR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.24 | 13.60 % | |
| R2 | 6.02 | 9.63 % | ||
| R1 | 5.88 | 7.18 % | ||
| Current price: | 5.49 | |||
| Support | S1 | 5.45 | -0.748 % | |
| S2 | 5.31 | -3.20 % | ||
| S3 | 5.10 | -7.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.83 | 24.41 % | |
| R2 | 6.48 | 18.03 % | ||
| R1 | 6.33 | 15.30 % | ||
| Current price | 5.49 | |||
| Support | S1 | 5.42 | -1.28% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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