Nexo / Us Dollar Cryptocurrency Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Nexo / Us Dollar cryptocurrency price down 0.139% on Saturday
(Updated on May 04, 2024)
The Nexo / Us Dollar cryptocurrency price fell by -0.139% on the last day (Saturday, 4th May 2024) from $1.29 to $1.29. During the last trading day the cryptocurrency fluctuated 5.58% from a day low at $1.24 to a day high of $1.31. The price has fallen in 7 of the last 10 days but is still up by 1.9% over the past 2 weeks. Volume fell on the last day along with the cryptocurrency, which is actually a good sign as volume should follow the cryptocurrency. On the last day, the trading volume fell by -4 million shares and in total, 2 million shares were bought and sold for approximately $2.22 million.
The cryptocurrency lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to rise 15.54% during the next 3 months and, with a 90% probability hold a price between $1.26 and $1.89 at the end of this 3-month period.
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NEXOUSD Signals & Forecast
The Nexo / Us Dollar cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the cryptocurrency has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $1.24 and $1.28. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, March 05, 2024, and so far it has fallen -13.50%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Nexo / Us Dollar cryptocurrency
Nexo / Us Dollar finds support from accumulated volume at $1.29 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the cryptocurrency moved $0.0690 (5.58%) between high and low. For the last week, the cryptocurrency has had daily average volatility of 6.34%.
Our recommended stop-loss: $1.22 (-5.76%) (This cryptocurrency has low daily movements and this gives low risk. There is a sell signal from a pivot top found 60 days ago.)
Trading Expectations (NEXOUSD) For The Upcoming Trading Day Of Sunday 5th
For the upcoming trading day on Sunday, 5th we expect Nexo / Us Dollar to open at $1.28, and during the day (based on 14 day Average True Range), to move between $1.21 and $1.37, which gives a possible trading interval of +/-$0.0828 (+/-6.42%) up or down from last closing price. If Nexo / Us Dollar takes out the full calculated possible swing range there will be an estimated 12.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.29 (0.05%) than the resistance at $1.47 (13.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Nexo / Us Dollar cryptocurrency A Buy?
Nexo / Us Dollar 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.
Current score: 0.036 Hold/Accumulate Unchanged
Predicted Opening Price for Nexo / Us Dollar of Sunday, May 5, 2024
| Fair opening price May 5, 2024 | Current price |
|---|---|
| $1.28 ( 0.96%) | $1.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NEXOUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.35 | 4.39 % | |
| R2 | 1.32 | 2.35 % | ||
| R1 | 1.30 | 1.09 % | ||
| Current price: | 1.29 | |||
| Support | S1 | 1.25 | -3.00 % | |
| S2 | 1.24 | -4.26 % | ||
| S3 | 1.21 | -6.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.49 | 15.60 % | |
| R2 | 1.49 | 15.29 % | ||
| R1 | 1.47 | 13.74 % | ||
| Current price | 1.29 | |||
| Support | S1 | 1.29 | -0.0543% | |
| S2 | 1.28 | -1.08% | ||
| S3 | 0.99 | -23.07% |
FAQ
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