BTN/GBP Currency Pair Forecast

BTN/GBP currency pair price ended at £0.0093 on Thursday, after losing 0.737%.
(Updated on May 16, 2024)

BTNGBP Signals & Forecast

There are few to no technical positive signals at the moment. The BTN/GBP currency pair 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 £0.0094 and £0.0095. 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 -2.59%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this currency pair 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.

Support, Risk & Stop-loss for BTN/GBP currency pair

BTN/GBP finds support from accumulated volume at £0.0093 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the currency pair 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 currency pair During the last day, the currency pair moved £0.00006298 between high and low, or 0.674%. For the last week the currency pair has had daily average volatility of 0.267%

Our recommended stop-loss: £0.0089 (-4.48%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 18 days ago.)

Trading Expectations (BTNGBP) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect BTN/GBP to open at £0.0094, and during the day (based on 14 day Average True Range), to move between £0.0093 and £0.0094, which gives a possible trading interval of +/-£0.00003187 (+/-0.34%) up or down from last closing price. If BTN/GBP takes out the full calculated possible swing range there will be an estimated 0.68% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £0.0093 (0.02%) than the resistance at £0.0094 (0.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is BTN/GBP currency pair A Buy?

BTN/GBP holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.818 Hold/Accumulate Unchanged

Predicted Opening Price for BTN/GBP of Friday, May 17, 2024

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