GoMeat USD Cryptocurrency Forecast
GoMeat USD cryptocurrency upgraded to Hold/Accumulate.
(Updated on Apr 29, 2024)
No changes to the price of GoMeat USD cryptocurrency on the last trading day (Monday, 29th Apr 2024). During the last trading day the cryptocurrency fluctuated 0% from a day low at $0.336 to a day high of $0.336. The price has fallen in 6 of the last 10 days and is down by -14.65% for this period.
The cryptocurrency lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.366 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the cryptocurrency is expected to fall -34.53% during the next 3 months and, with a 90% probability hold a price between $0.110 and $0.240 at the end of this 3-month period. 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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GOMTUSD Signals & Forecast
The GoMeat USD cryptocurrency holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the cryptocurrency giving a positive forecast for the stock. On further gains, the cryptocurrency will meet resistance from the short-term Moving Average at approximately $0.338. On a fall, the cryptocurrency will find some support from the long-term average at approximately $0.313. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Tuesday, April 23, 2024, and so far it has fallen -1.15%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Saturday, March 16, 2024 with a target of $0.286. Despite whether the objective of the signal formation has been reached the cryptocurrency may continue to perform well.
Support, Risk & Stop-loss for GoMeat USD cryptocurrency
GoMeat USD finds support from accumulated volume at $0.323 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the cryptocurrency 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 cryptocurrency During the last day, the cryptocurrency moved $0 between high and low, or 0%. For the last week the cryptocurrency has had daily average volatility of 0.0886%
Our recommended stop-loss: $0.321 (-4.56%) (This cryptocurrency has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (GOMTUSD) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect GoMeat USD to open at $0.336, and during the day (based on 14 day Average True Range), to move between $0.317 and $0.355, which gives a possible trading interval of +/-$0.0192 (+/-5.72%) up or down from last closing price. If GoMeat USD takes out the full calculated possible swing range there will be an estimated 11.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.338 (0.62%) than the support at $0.323 (3.81%), 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 GoMeat USD cryptocurrency A Buy?
GoMeat 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. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for GoMeat USD of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $0.336 ( 0%) | $0.336 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GOMTUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.336 | . | |
| R2 | 0.336 | . | ||
| R1 | 0.336 | . | ||
| Current price: | 0.336 | |||
| Support | S1 | 0.336 | . | |
| S2 | 0.336 | . | ||
| S3 | 0.336 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.352 | 4.63 % | |
| R2 | 0.345 | 2.68 % | ||
| R1 | 0.338 | 0.622 % | ||
| Current price | 0.336 | |||
| Support | S1 | 0.323 | -3.81% | |
| S2 | 0.308 | -8.27% | ||
| S3 | 0.271 | -19.25% |
FAQ
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