IMO USD Cryptocurrency Forecast
Volatile ride for IMO USD cryptocurrency price on Tuesday moving between $0.119 and $0.136
(Updated on May 28, 2024)
The IMO USD cryptocurrency price gained 1.15% on the last trading day (Tuesday, 28th May 2024), rising from $0.128 to $0.129. During the last trading day the cryptocurrency fluctuated 14.13% from a day low at $0.119 to a day high of $0.136. The price has fallen in 5 of the last 10 days and is down by -6.55% for this period. Volume fell on the last day by -12 thousand shares and in total, 49 thousand shares were bought and sold for approximately $6.31 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The cryptocurrency lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to fall -35.79% during the next 3 months and, with a 90% probability hold a price between $0.0730 and $0.107 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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IMOUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, May 27, 2024, and so far it has risen 1.15%. Further rise is indicated until a new top pivot has been found. 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 IMO USD cryptocurrency 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 $0.147 and $0.145. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. 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 Monday, May 27, 2024 and based on theory for this formation the price should go up by 52.02% to $0.197 within 13 trading days since signal was issued (Wednesday, May 29, 2024).
Support, Risk & Stop-loss for IMO USD cryptocurrency
IMO USD finds support from accumulated volume at $0.128 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency may move much during the day (volatility) and with periodic low trading volume this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0169 between high and low, or 14.13%. For the last week the cryptocurrency has had daily average volatility of 11.91%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IMOUSD) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect IMO USD to open at $0.128, and during the day (based on 14 day Average True Range), to move between $0.118 and $0.141, which gives a possible trading interval of +/-$0.0113 (+/-8.71%) up or down from last closing price. If IMO USD takes out the full calculated possible swing range there will be an estimated 17.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.128 (0.97%) than the resistance at $0.132 (1.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is IMO USD cryptocurrency A Buy?
IMO USD holds several negative signals and is within a very wide 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 cryptocurrency.
Current score: -5.360 Strong Sell Candidate Unchanged
Predicted Opening Price for IMO USD of Wednesday, May 29, 2024
| Fair opening price May 29, 2024 | Current price |
|---|---|
| $0.128 ( 0.94%) | $0.129 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IMOUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.145 | 12.07 % | |
| R2 | 0.139 | 7.10 % | ||
| R1 | 0.135 | 4.03 % | ||
| Current price: | 0.129 | |||
| Support | S1 | 0.122 | -5.92 % | |
| S2 | 0.118 | -8.99 % | ||
| S3 | 0.111 | -13.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.162 | 24.92 % | |
| R2 | 0.142 | 9.55 % | ||
| R1 | 0.132 | 1.66 % | ||
| Current price | 0.129 | |||
| Support | S1 | 0.128 | -0.97% | |
| S2 | 0.128 | -1.14% | ||
| S3 | 0 | . |
FAQ
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