ETNA Network USD Stock 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
Evaluation of ETNA Network USD stock downgraded after the last trading session.
(Updated on Jun 25, 2024)
The ETNA Network USD stock price fell by -2.86% on the last day (Tuesday, 25th Jun 2024) from $0.000035 to $0.000034. During the last trading day the stock fluctuated 3.03% from a day low at $0.000033 to a day high of $0.000034. The price has fallen in 6 of the last 10 days but is still up by 70% 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 -205 shares and in total, 0 shares were bought and sold for approximately $0 .
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. Due to the high volatility and the trend direction we are not able to give forecast range for this stock.
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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 $0.00003343 and $0.0000242. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, June 24, 2024, and so far it has fallen -2.86%. Further fall is indicated until a new bottom pivot has been found. 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
ETNA Network USD finds support from accumulated volume at $0.000033 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.000001 between high and low, or 3.03%. For the last week the stock has had daily average volatility of 38.20%
Our recommended stop-loss: $0.00003244 (-4.59%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (ETNAUSD) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect ETNA Network USD to open at $0.00003367, and during the day (based on 14 day Average True Range), to move between $0.00002465 and $0.00004335, which gives a possible trading interval of +/-$0.00000935 (+/-27.50%) up or down from last closing price. If ETNA Network USD takes out the full calculated possible swing range there will be an estimated 55.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.000035 (2.94%) than the support at $0.000033 (2.94%), 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?
ETNA Network USD holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.915 Hold/Accumulate Downgraded
Predicted Opening Price for ETNA Network USD of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$0.00003367 ( 0.98%) | $0.000034 |
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 | 0.00003467 | 1.96% |
R2 | 0.00003428 | 0.84% |
R1 | 0.00003405 | 0.143% |
Price | 0.000034 | |
S1 | 0.00003328 | -2.10% |
S2 | 0.00003305 | -2.80% |
S3 | 0.00003267 | -3.92% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.000039 | 14.71% |
R2 | 0.000036 | 5.88% |
R1 | 0.000035 | 2.94% |
Price | 0.000034 | |
S1 | 0.000033 | -2.94% |
S2 | 0.000028 | -17.65% |
S3 | 0.000026 | -23.53% |
FAQ
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