Fortress USD Cryptocurrency 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
Red day on Saturday for Fortress USD
(Updated on May 18, 2024)
The Fortress USD cryptocurrency price fell by -0.99% on the last day (Saturday, 18th May 2024) from $0.263 to $0.260. During the last trading day the cryptocurrency fluctuated 5.35% from a day low at $0.258 to a day high of $0.272. The price has fallen in 7 of the last 10 days and is down by -4.87% for this period. Volume fell on the last day along with the cryptocurrency, which is actually a good sign as volume should follow the cryptocurrency. On the last day, the trading volume fell by -119 thousand shares and in total, 205 thousand shares were bought and sold for approximately $53.22 thousand.
The cryptocurrency lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to rise 23.78% during the next 3 months and, with a 90% probability hold a price between $0.229 and $0.443 at the end of this 3-month period.
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FORTUSD Signals & Forecast
The Fortress USD cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the cryptocurrency 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 $0.247 and $0.255. 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, April 24, 2024, and so far it has fallen -23.38%. 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 cryptocurrency 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 Fortress USD cryptocurrency
Fortress USD finds support from accumulated volume at $0.257 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the cryptocurrency moved $0.0138 between high and low, or 5.35%. For the last week the cryptocurrency has had daily average volatility of 5.20%.
Our recommended stop-loss: $0.245 (-5.91%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 24 days ago.)
Trading Expectations (FORTUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect Fortress USD to open at $0.263, and during the day (based on 14 day Average True Range), to move between $0.239 and $0.281, which gives a possible trading interval of +/-$0.0214 (+/-8.22%) up or down from last closing price. If Fortress USD takes out the full calculated possible swing range there will be an estimated 16.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.257 (1.27%) than the resistance at $0.291 (11.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Fortress USD cryptocurrency A Buy?
Fortress 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.
Current score: 0.582 Hold/Accumulate Unchanged
Predicted Opening Price for Fortress USD of Sunday, May 19, 2024
Fair opening price May 19, 2024 | Current price |
---|---|
$0.263 ( 1.31%) | $0.260 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FORTUSD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.277 | 6.62 % | |
R2 | 0.272 | 4.59 % | ||
R1 | 0.269 | 3.34 % | ||
Current price: | 0.260 | |||
Support | S1 | 0.258 | -0.720 % | |
S2 | 0.255 | -1.97 % | ||
S3 | 0.250 | -4.00 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.305 | 17.16 % | |
R2 | 0.291 | 12.15 % | ||
R1 | 0.291 | 11.86 % | ||
Current price | 0.260 | |||
Support | S1 | 0.257 | -1.27% | |
S2 | 0.227 | -12.81% | ||
S3 | 0.198 | -23.82% |
FAQ
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