Drip Network USD Stock Forecast
Red day on Friday for Drip Network USD
(Updated on Jun 28, 2024)
The Drip Network USD stock price fell by -3.45% on the last day (Friday, 28th Jun 2024) from $0.0063 to $0.0061. During the last trading day the stock fluctuated 2.39% from a day low at $0.0061 to a day high of $0.0062. The price has fallen in 8 of the last 10 days and is down by -7.2% for this period. Volume has increased on the last day by 885 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 thousand shares were bought and sold for approximately $8.62 .
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.0058, a level that may pose a second chance to hit a runner. According to fan-theory $0.0069 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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DRIPUSD Signals & Forecast
There are few to no technical positive signals at the moment. The Drip Network 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 $0.0064 and $0.0064. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 10, 2024, and so far it has fallen -9.64%. 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). Drip Network 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 Drip Network 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.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0001 between high and low, or 2.39%. For the last week the stock has had daily average volatility of 1.25%.
Drip Network USD is oversold on RSI14 (8). 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 (DRIPUSD) For The Upcoming Trading Day Of Saturday 29th
For the upcoming trading day on Saturday, 29th we expect Drip Network USD to open at $0.0061, and during the day (based on 14 day Average True Range), to move between $0.0060 and $0.0062, which gives a possible trading interval of +/-$0.00006868 (+/-1.13%) up or down from last closing price. If Drip Network USD takes out the full calculated possible swing range there will be an estimated 2.25% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0066, some $0.0006 (9.02%) from the current price of $0.0061, our system finds the risk reward not very attractive.
Is Drip Network USD stock A Buy?
Drip Network USD holds several negative signals and is within a 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.
Current score: -4.633 Sell Candidate Unchanged
Predicted Opening Price for Drip Network USD of Saturday, June 29, 2024
Fair opening price June 29, 2024 | Current price |
---|---|
$0.0061 ( 0.798%) | $0.0061 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DRIPUSD
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0063 | 3.19% |
R2 | 0.0062 | 2.28% |
R1 | 0.0062 | 1.71% |
Price | 0.0061 | |
S1 | 0.0061 | -0.116% |
S2 | 0.0061 | -0.681% |
S3 | 0.0060 | -1.60% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0076 | 24.97% |
R2 | 0.0071 | 16.36% |
R1 | 0.0066 | 9.02% |
Price | 0.0061 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
FAQ
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