CATO USD Cryptocurrency Forecast

CATO USD cryptocurrency downgraded from Buy Candidate to Sell Candidate after Thursday trading session.
(Updated on May 16, 2024)

CATOUSD Signals & Forecast

The CATO USD cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the cryptocurrency has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0024 and $0.0028. 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 Wednesday, May 15, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. 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 CATO USD cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0025 and $0.0024. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, CATO USD finds support just below today's level at $0.0025. If this is broken, then the next support from accumulated volume will be at $0.0024 and $0.0022.

In general the cryptocurrency 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 cryptocurrency During the last day, the cryptocurrency moved $0 between high and low, or 0%. For the last week the cryptocurrency has had daily average volatility of 11.01%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

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

For the upcoming trading day on Friday, 17th we expect CATO USD to open at $0.0028, and during the day (based on 14 day Average True Range), to move between $0.0024 and $0.0032, which gives a possible trading interval of +/-$0.0004 (+/-14.30%) up or down from last closing price. If CATO USD takes out the full calculated possible swing range there will be an estimated 28.59% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0029 (3.19%) than the support at $0.0025 (12.26%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is CATO USD cryptocurrency A Buy?

CATO USD holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Buy to a Sell candidate.

Current score: -1.685 Sell Candidate Downgraded

Predicted Opening Price for CATO USD of Friday, May 17, 2024

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