Monetha USD Stock Forecast
Big movements in Monetha USD stock price on Wednesday moving 28.24% between high and low
(Updated on Jun 26, 2024)
The Monetha USD stock price gained 3.44% on the last trading day (Wednesday, 26th Jun 2024), rising from $0.0026 to $0.0026. During the last trading day the stock fluctuated 28.24% from a day low at $0.0021 to a day high of $0.0027. The price has been going up and down for this period, and there has been a -6.2% loss for the last 2 weeks. Volume fell on the last day by -5 thousand shares and in total, 180 thousand shares were bought and sold for approximately $476.34 . 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 stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Monetha USD stock with a 90% probability to be traded between $0.0019 and $0.0034 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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MTHUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 12.82%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Monetha USD stock 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 $0.0027 and $0.0026. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for Monetha USD stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0024 and $0.0024. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Monetha USD finds support just below today's level at $0.0024. If this is broken, then the next support from accumulated volume will be at $0.0024 and $0.0022.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0006 between high and low, or 28.24%. For the last week the stock has had daily average volatility of 24.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MTHUSD) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Monetha USD to open at $0.0025, and during the day (based on 14 day Average True Range), to move between $0.0020 and $0.0033, which gives a possible trading interval of +/-$0.0006 (+/-22.84%) up or down from last closing price. If Monetha USD takes out the full calculated possible swing range there will be an estimated 45.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0028 (5.02%) than the support at $0.0024 (7.82%), 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 Monetha USD stock A Buy?
Monetha 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 stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.597 Sell Candidate Upgraded
Predicted Opening Price for Monetha USD of Thursday, June 27, 2024
Fair opening price June 27, 2024 | Current price |
---|---|
$0.0025 ( 5.93%) | $0.0026 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MTHUSD
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0031 | 16.62% |
R2 | 0.0029 | 8.00% |
R1 | 0.0027 | 2.68% |
Price | 0.0026 | |
S1 | 0.0023 | -14.54% |
S2 | 0.0021 | -19.86% |
S3 | 0.0019 | -28.47% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0033 | 23.15% |
R2 | 0.0029 | 7.97% |
R1 | 0.0028 | 5.02% |
Price | 0.0026 | |
S1 | 0.0024 | -7.82% |
S2 | 0.0024 | -9.71% |
S3 | 0.0022 | -16.58% |
FAQ
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