BurgerCities USD Stock Forecast
BurgerCities USD stock downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on Jun 17, 2024)
No changes to the price of BurgerCities USD stock on the last trading day (Monday, 17th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.546 to a day high of $0.546. The price has fallen in 5 of the last 10 days and is down by -20.98% for this period.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -33.86% during the next 3 months and, with a 90% probability hold a price between $0.140 and $0.496 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BURGERUSD Signals & Forecast
The BurgerCities USD stock 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 $0.527 and $0.513. A breakdown below any of these levels will issue sell signals. 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 Sunday, June 16, 2024, and so far it has fallen 0%. 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 BurgerCities USD stock
BurgerCities USD finds support from accumulated volume at $0.535 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 9.64%
Our recommended stop-loss: $0.524 (-3.96%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (BURGERUSD) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect BurgerCities USD to open at $0.546, and during the day (based on 14 day Average True Range), to move between $0.477 and $0.615, which gives a possible trading interval of +/-$0.0691 (+/-12.66%) up or down from last closing price. If BurgerCities USD takes out the full calculated possible swing range there will be an estimated 25.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.535 (1.92%) than the resistance at $0.588 (7.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BurgerCities USD stock A Buy?
BurgerCities 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.916 Hold/Accumulate Downgraded
Predicted Opening Price for BurgerCities USD of Tuesday, June 18, 2024
Fair opening price June 18, 2024 | Current price |
---|---|
$0.546 ( 0%) | $0.546 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BURGERUSD
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.546 | - |
R2 | 0.546 | - |
R1 | 0.546 | - |
Price | 0.546 | |
S1 | 0.546 | - |
S2 | 0.546 | - |
S3 | 0.546 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.670 | 22.81% |
R2 | 0.610 | 11.67% |
R1 | 0.588 | 7.79% |
Price | 0.546 | |
S1 | 0.535 | -1.92% |
S2 | 0.533 | -2.42% |
S3 | 0.513 | -6.04% |
FAQ
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