XTRA Bitcoin Inc. Stock Forecast
Volatile ride for XTRA Bitcoin Inc. stock price on Friday moving between $0.0016 and $0.0018
(Updated on May 03, 2024)
The XTRA Bitcoin Inc. stock price fell by -5.88% on the last day (Friday, 3rd May 2024) from $0.0017 to $0.0016. During the last trading day the stock fluctuated 12.50% from a day low at $0.0016 to a day high of $0.0018. The price has fallen in 6 of the last 10 days and is down by -5.88% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -724 thousand shares and in total, 3 million shares were bought and sold for approximately $5.44 thousand.
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 -31.56% during the next 3 months and, with a 90% probability hold a price between $0.0009 and $0.0015 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CBTC Signals & Forecast
There are few to no technical positive signals at the moment. The XTRA Bitcoin Inc. 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 $0.0017 and $0.0020. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -15.79%. 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 stock 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 XTRA Bitcoin Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0015. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0002 between high and low, or 12.50%. For the last week the stock has had daily average volatility of 13.48%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CBTC) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect XTRA Bitcoin Inc. to open at $0.0017, and during the day (based on 14 day Average True Range), to move between $0.0013 and $0.0019, which gives a possible trading interval of +/-$0.0003 (+/-16.92%) up or down from last closing price. If XTRA Bitcoin Inc. takes out the full calculated possible swing range there will be an estimated 33.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0016 (2.50%) than the support at $0.0015 (6.25%), 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 XTRA Bitcoin Inc. stock A Buy?
XTRA Bitcoin Inc. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.670 Strong Sell Candidate Downgraded
Predicted Opening Price for XTRA Bitcoin Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.0017 ( 4.17%) | $0.0016 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CBTC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0019 | 16.67 % | |
| R2 | 0.0018 | 11.89 % | ||
| R1 | 0.0017 | 8.94 % | ||
| Current price: | 0.0016 | |||
| Support | S1 | 0.0016 | -0.608 % | |
| S2 | 0.0015 | -3.56 % | ||
| S3 | 0.0015 | -8.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0018 | 9.38 % | |
| R2 | 0.0017 | 6.25 % | ||
| R1 | 0.0016 | 2.50 % | ||
| Current price | 0.0016 | |||
| Support | S1 | 0.0015 | -6.25% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy XTRA Bitcoin Inc. Stock.
