DragonKing USD Cryptocurrency Forecast

DragonKing USD cryptocurrency upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)

DRAGONKINGUSD Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 2.89%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The DragonKing 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 $0.00000001 and $0.00000001. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). DragonKing 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.

Support, Risk & Stop-loss for DragonKing USD cryptocurrency

DragonKing USD finds support from accumulated volume at $0.00000001 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This cryptocurrency may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.00000000 between high and low, or 2.89%. For the last week, the cryptocurrency has had daily average volatility of 3.09%.

Our recommended stop-loss: $0.00000001 (-4.62%) (This cryptocurrency has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (DRAGONKINGUSD) For The Upcoming Trading Day Of Saturday 18th

For the upcoming trading day on Saturday, 18th we expect DragonKing USD to open at $0.00000001, and during the day (based on 14 day Average True Range), to move between $0.00000001 and $0.00000001, which gives a possible trading interval of +/-$0.00000000 (+/-4.36%) up or down from last closing price. If DragonKing USD takes out the full calculated possible swing range there will be an estimated 8.72% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.00000001 (2.81%) than the resistance at $0.00000001 (8.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is DragonKing USD cryptocurrency A Buy?

DragonKing 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. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for DragonKing USD of Saturday, May 18, 2024

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