Dragonchain USD Stock Forecast
Dragonchain USD stock price down 1.51% on Thursday
(Updated on Jun 20, 2024)
The Dragonchain USD stock price fell by -1.51% on the last day (Thursday, 20th Jun 2024) from $0.0596 to $0.0587. During the last trading day the stock fluctuated 6.97% from a day low at $0.0553 to a day high of $0.0592. The price has been going up and down for this period, and there has been a 7.96% gain for the last 2 weeks. 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 -35 thousand shares and in total, 51 thousand shares were bought and sold for approximately $3.01 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 -2.26% during the next 3 months and, with a 90% probability hold a price between $0.0389 and $0.0771 at the end of this 3-month period.
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DRGNUSD Signals & Forecast
The Dragonchain USD stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock 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 $0.0540 and $0.0582. 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, June 19, 2024, and so far it has fallen -1.51%. 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 Dragonchain USD stock
Dragonchain USD finds support from accumulated volume at $0.0576 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0039 between high and low, or 6.97%. For the last week the stock has had daily average volatility of 17.32%.
Our recommended stop-loss: $0.0557 (-5.04%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 55 days ago.)
Trading Expectations (DRGNUSD) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Dragonchain USD to open at $0.0577, and during the day (based on 14 day Average True Range), to move between $0.0515 and $0.0659, which gives a possible trading interval of +/-$0.0072 (+/-12.30%) up or down from last closing price. If Dragonchain USD takes out the full calculated possible swing range there will be an estimated 24.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0576 (1.87%) than the resistance at $0.0644 (9.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Dragonchain USD stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.718 Buy Candidate Unchanged
Predicted Opening Price for Dragonchain USD of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $0.0577 ( 1.62%) | $0.0587 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DRGNUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0616 | 4.96% |
| R2 | 0.0601 | 2.45% |
| R1 | 0.0592 | 0.90% |
| Price | 0.0587 | |
| S1 | 0.0563 | -4.13% |
| S2 | 0.0554 | -5.68% |
| S3 | 0.0539 | -8.19% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0712 | 21.30% |
| R2 | 0.0662 | 12.75% |
| R1 | 0.0644 | 9.75% |
| Price | 0.0587 | |
| S1 | 0.0576 | -1.87% |
| S2 | 0.0562 | -4.32% |
| S3 | 0.0534 | -8.93% |
FAQ
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