Metronome USD Stock Forecast

Metronome USD stock price ended at $0.645 on Friday, after losing 0.303%.
(Updated on Jun 28, 2024)

METUSD Signals & Forecast

There are few to no technical positive signals at the moment. The Metronome USD stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.717. On a fall, the stock will find some support from the short-term average at $0.633. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -27.40%. 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). Metronome 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 Metronome USD stock

Metronome USD finds support from accumulated volume at $0.642 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0014 between high and low, or 0.216%. For the last week, the stock has had daily average volatility of 1.52%.

Our recommended stop-loss: $0.624 (-3.30%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 20 days ago.)

Trading Expectations (METUSD) For The Upcoming Trading Day Of Saturday 29th

For the upcoming trading day on Saturday, 29th we expect Metronome USD to open at $0.645, and during the day (based on 14 day Average True Range), to move between $0.593 and $0.697, which gives a possible trading interval of +/-$0.0517 (+/-8.01%) up or down from last closing price. If Metronome USD takes out the full calculated possible swing range there will be an estimated 16.02% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.642 (0.43%) than the resistance at $0.676 (4.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Metronome USD stock A Buy?

Metronome USD holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

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 Metronome USD of Saturday, June 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.