MYCOWRIE USD Stock Forecast

MYCOWRIE USD stock downgraded to Sell Candidate
(Updated on Jun 25, 2024)

COWRIEUSD Signals & Forecast

There are few to no technical positive signals at the moment. The MYCOWRIE USD 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 $0.0015 and $0.0017. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -43.11%. 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). MYCOWRIE USD gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Wednesday, April 24, 2024 with a target of $0.0025. Despite whether the objective of the signal formation has been reached the stock may continue to fall.

Support, Risk & Stop-loss for MYCOWRIE USD stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.00002616 between high and low, or 1.77%. For the last week, the stock has had daily average volatility of 1.56%.

MYCOWRIE USD is oversold on RSI14 (1). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

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

Trading Expectations (COWRIEUSD) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect MYCOWRIE USD to open at $0.0015, and during the day (based on 14 day Average True Range), to move between $0.0015 and $0.0015, which gives a possible trading interval of +/-$0.00002439 (+/-1.65%) up or down from last closing price. If MYCOWRIE USD takes out the full calculated possible swing range there will be an estimated 3.30% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $0.0015, some $0.00005909 (4.00%) from the current price of $0.0015, our system finds the risk reward not very attractive.

Is MYCOWRIE USD stock A Buy?

MYCOWRIE USD 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 Hold/Accumulate to a Sell candidate.

Current score: -3.555 Sell Candidate Downgraded

Predicted Opening Price for MYCOWRIE USD of Wednesday, June 26, 2024

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