Frax USD Stock Forecast
Red day on Friday for Frax USD
(Updated on Jun 21, 2024)
The Frax USD stock price fell by -0.0020% on the last day (Friday, 21st Jun 2024) from $1.00 to $1.00. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 0.0622% from a day low at $1.00 to a day high of $1.00. The price has fallen in 7 of the last 10 days and is down by -0.01% for this period. 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 -4 million shares and in total, 8 million shares were bought and sold for approximately $7.59 million.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Frax USD stock with a 90% probability to be traded between $0.99 and $1.00 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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FRAXUSD Signals & Forecast
There are few to no technical positive signals at the moment. The Frax 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 $1.00 and $1.00. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -0.138%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Tuesday, April 16, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, April 16, 2024.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, April 16, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, April 16, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, April 16, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, April 16, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Frax USD stock
Frax USD finds support from accumulated volume at $1.00 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0006 between high and low, or 0.0622%. For the last week the stock has had daily average volatility of 0.0513%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FRAXUSD) For The Upcoming Trading Day Of Saturday 22nd
For the upcoming trading day on Saturday, 22nd we expect Frax USD to open at $1.00, and during the day (based on 14 day Average True Range), to move between $1.00 and $1.00, which gives a possible trading interval of +/-$0.0007 (+/-0.07%) up or down from last closing price. If Frax USD takes out the full calculated possible swing range there will be an estimated 0.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.00 (0.00%) than the support at $1.00 (0.01%), 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 Frax USD stock A Buy?
Frax USD holds several negative signals and is within a narrow 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: -2.667 Sell Candidate Unchanged
Predicted Opening Price for Frax USD of Saturday, June 22, 2024
| Fair opening price June 22, 2024 | Current price |
|---|---|
| $1.00 ( 0.0154%) | $1.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FRAXUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.00 | 0.0468% |
| R2 | 1.00 | 0.0230% |
| R1 | 1.00 | 0.0084% |
| Price | 1.00 | |
| S1 | 1.00 | -0.0391% |
| S2 | 1.00 | -0.0538% |
| S3 | 1.00 | -0.0775% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.00 | 0.0541% |
| R2 | 1.00 | 0.0271% |
| R1 | 1.00 | 0.0040% |
| Price | 1.00 | |
| S1 | 1.00 | -0.0070% |
| S2 | 1.00 | -0.0812% |
| S3 | 0.99 | -0.295% |
FAQ
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