Everscale USD Stock Forecast
A very red day for Everscale USD stock price after a -9.72% fall in the Friday trading session
(Updated on Jun 28, 2024)
The Everscale USD stock price fell by -9.72% on the last day (Friday, 28th Jun 2024) from $0.0569 to $0.0514. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 8.93% from a day low at $0.0513 to a day high of $0.0559. The price has been going up and down for this period, and there has been a -3.07% loss for the last 2 weeks. Volume has increased on the last day by 95 thousand 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, 466 thousand shares were bought and sold for approximately $23.95 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0476 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 57.89% during the next 3 months and, with a 90% probability hold a price between $0.0751 and $0.109 at the end of this 3-month period.
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EVERUSD Signals & Forecast
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. The Everscale USD stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.0570 and $0.0545. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Sunday, May 26, 2024, and so far it has fallen -14.36%. Further fall is indicated until a new bottom pivot has been found. Everscale 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 Everscale USD stock
Everscale USD finds support from accumulated volume at $0.0508 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0046 between high and low, or 8.93%. For the last week, the stock has had daily average volatility of 4.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EVERUSD) For The Upcoming Trading Day Of Saturday 29th
For the upcoming trading day on Saturday, 29th we expect Everscale USD to open at $0.0529, and during the day (based on 14 day Average True Range), to move between $0.0485 and $0.0542, which gives a possible trading interval of +/-$0.0028 (+/-5.48%) up or down from last closing price. If Everscale USD takes out the full calculated possible swing range there will be an estimated 10.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0508 (1.16%) than the resistance at $0.0541 (5.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Everscale USD stock A Buy?
The Everscale USD stock holds several negative signals and despite the positive trend, we believe Everscale USD will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -4.494 Sell Candidate Downgraded
Predicted Opening Price for Everscale USD of Saturday, June 29, 2024
| Fair opening price June 29, 2024 | Current price |
|---|---|
| $0.0529 ( 2.96%) | $0.0514 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EVERUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0575 | 11.89% |
| R2 | 0.0557 | 8.48% |
| R1 | 0.0546 | 6.37% |
| Price | 0.0514 | |
| S1 | 0.0511 | -0.449% |
| S2 | 0.0500 | -2.56% |
| S3 | 0.0483 | -5.97% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0564 | 9.88% |
| R2 | 0.0541 | 5.38% |
| R1 | 0.0541 | 5.30% |
| Price | 0.0514 | |
| S1 | 0.0508 | -1.16% |
| S2 | 0.0469 | -8.68% |
| S3 | 0.0461 | -10.14% |
FAQ
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