Bazaars USD Cryptocurrency Forecast
Red day on Tuesday for Bazaars USD
(Updated on May 14, 2024)
The Bazaars USD cryptocurrency price fell by -2.11% on the last day (Tuesday, 14th May 2024) from $7.56 to $7.40. During the last trading day the cryptocurrency fluctuated 3.24% from a day low at $7.34 to a day high of $7.58. The price has been going up and down for this period, and there has been a -7.54% loss for the last 2 weeks. Volume fell on the last day along with the cryptocurrency, which is actually a good sign as volume should follow the cryptocurrency. On the last day, the trading volume fell by -41 thousand shares and in total, 359 thousand shares were bought and sold for approximately $2.66 million.
The cryptocurrency lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to rise 3.28% during the next 3 months and, with a 90% probability hold a price between $6.28 and $9.82 at the end of this 3-month period.
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BZRUSD 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 Bazaars USD cryptocurrency 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 $7.53 and $7.56. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Sunday, May 05, 2024, and so far it has fallen -8.03%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Bazaars USD cryptocurrency
Bazaars USD finds support from accumulated volume at $7.39 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 and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.238 between high and low, or 3.24%. For the last week, the cryptocurrency has had daily average volatility of 3.14%.
Our recommended stop-loss: $6.99 (-5.63%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (BZRUSD) For The Upcoming Trading Day Of Wednesday 15th
For the upcoming trading day on Wednesday, 15th we expect Bazaars USD to open at $7.44, and during the day (based on 14 day Average True Range), to move between $7.04 and $7.77, which gives a possible trading interval of +/-$0.361 (+/-4.88%) up or down from last closing price. If Bazaars USD takes out the full calculated possible swing range there will be an estimated 9.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.39 (0.27%) than the resistance at $7.56 (2.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bazaars USD cryptocurrency A Buy?
Bazaars USD 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: -0.229 Hold/Accumulate Unchanged
Predicted Opening Price for Bazaars USD of Wednesday, May 15, 2024
Fair opening price May 15, 2024 | Current price |
---|---|
$7.44 ( 0.473%) | $7.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BZRUSD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.68 | 3.68 % | |
R2 | 7.59 | 2.46 % | ||
R1 | 7.53 | 1.70 % | ||
Current price: | 7.40 | |||
Support | S1 | 7.35 | -0.752 % | |
S2 | 7.29 | -1.51 % | ||
S3 | 7.20 | -2.73 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.86 | 6.09 % | |
R2 | 7.82 | 5.55 % | ||
R1 | 7.56 | 2.15 % | ||
Current price | 7.40 | |||
Support | S1 | 7.39 | -0.266% | |
S2 | 7.07 | -4.57% | ||
S3 | 7.01 | -5.31% |
FAQ
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