DODO / US Dollar Cryptocurrency Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
DODO / US Dollar cryptocurrency price ended at $0.182 on Saturday, after gaining 3.40%.
(Updated on May 18, 2024)
The DODO / US Dollar cryptocurrency price gained 3.40% on the last trading day (Saturday, 18th May 2024), rising from $0.176 to $0.182. During the last trading day the cryptocurrency fluctuated 5.72% from a day low at $0.175 to a day high of $0.185. The price has fallen in 5 of the last 10 days but is still up by 1.9% over the past 2 weeks. Volume fell on the last day by -3 million shares and in total, 994 thousand shares were bought and sold for approximately $181.34 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The cryptocurrency 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 cryptocurrency is expected to fall -23.32% during the next 3 months and, with a 90% probability hold a price between $0.0797 and $0.194 at the end of this 3-month period.
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DODOUSD Signals & Forecast
The DODO / US Dollar 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 $0.175 and $0.175. 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 Wednesday, March 13, 2024, and so far it has fallen -41.26%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for DODO / US Dollar cryptocurrency
DODO / US Dollar finds support from accumulated volume at $0.181 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, but be aware of low or falling volume as this increases the risk. During the last day, the cryptocurrency moved $0.0100 between high and low, or 5.72%. For the last week the cryptocurrency has had daily average volatility of 5.96%.
Our recommended stop-loss: $0.172 (-5.50%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 66 days ago.)
Trading Expectations (DODOUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect DODO / US Dollar to open at $0.181, and during the day (based on 14 day Average True Range), to move between $0.169 and $0.196, which gives a possible trading interval of +/-$0.0138 (+/-7.58%) up or down from last closing price. If DODO / US Dollar takes out the full calculated possible swing range there will be an estimated 15.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.181 (0.77%) than the resistance at $0.193 (5.65%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is DODO / US Dollar cryptocurrency A Buy?
DODO / US Dollar 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: -0.962 Hold/Accumulate Unchanged
Predicted Opening Price for DODO / US Dollar of Sunday, May 19, 2024
| Fair opening price May 19, 2024 | Current price |
|---|---|
| $0.181 ( 0.95%) | $0.182 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DODOUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.191 | 4.53 % | |
| R2 | 0.187 | 2.44 % | ||
| R1 | 0.184 | 1.14 % | ||
| Current price: | 0.182 | |||
| Support | S1 | 0.177 | -3.04 % | |
| S2 | 0.174 | -4.34 % | ||
| S3 | 0.171 | -6.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.212 | 16.45 % | |
| R2 | 0.201 | 10.42 % | ||
| R1 | 0.193 | 5.65 % | ||
| Current price | 0.182 | |||
| Support | S1 | 0.181 | -0.768% | |
| S2 | 0.179 | -1.92% | ||
| S3 | 0.165 | -9.48% |
FAQ
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