ETNA Network USD Stock Forecast
ETNA Network USD stock price fell more than -5.88% Thursday closing at $0.000032
(Updated on Jun 20, 2024)
The ETNA Network USD stock price fell by -5.88% on the last day (Thursday, 20th Jun 2024) from $0.000034 to $0.000032. During the last trading day the stock fluctuated 9.38% from a day low at $0.000032 to a day high of $0.000035. The price has fallen in 4 of the last 10 days but is still up by 60% over the past 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 -51 shares and in total, 44 shares were bought and sold for approximately $0.0014 .
The stockhas broken the very 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 $0.00002464, a level that may pose a second chance to hit a runner. According to fan-theory $0.0005 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ETNAUSD Signals & Forecast
The ETNA Network USD stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.00002314 and $0.00002183. 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 -5.88%. 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 ETNA Network USD stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.000027 and $0.000026. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, ETNA Network USD finds support just below today's level at $0.000027. If this is broken, then the next support from accumulated volume will be at $0.000026 and $0.000025.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.000003 between high and low, or 9.38%. For the last week the stock has had daily average volatility of 20.76%.
Our recommended stop-loss: $0.00003023 (-5.54%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 35 days ago.)
Trading Expectations (ETNAUSD) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect ETNA Network USD to open at $0.000033, and during the day (based on 14 day Average True Range), to move between $0.00002376 and $0.00004024, which gives a possible trading interval of +/-$0.00000824 (+/-25.74%) up or down from last closing price. If ETNA Network USD takes out the full calculated possible swing range there will be an estimated 51.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.000034 (6.25%) than the support at $0.000027 (15.63%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is ETNA Network USD stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
Current score: 1.125 Buy Candidate Unchanged
Predicted Opening Price for ETNA Network USD of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $0.000033 ( 3.12%) | $0.000032 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ETNAUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.000036 | 12.50% |
| R2 | 0.00003485 | 8.92% |
| R1 | 0.00003415 | 6.71% |
| Price | 0.000032 | |
| S1 | 0.00003185 | -0.456% |
| S2 | 0.00003115 | -2.67% |
| S3 | 0.00003 | -6.25% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.000039 | 21.88% |
| R2 | 0.000036 | 12.50% |
| R1 | 0.000034 | 6.25% |
| Price | 0.000032 | |
| S1 | 0.000027 | -15.63% |
| S2 | 0.000026 | -18.75% |
| S3 | 0.000025 | -21.88% |
FAQ
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