OAX USD 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
Evaluation of OAX USD cryptocurrency downgraded after the last trading session.
(Updated on Jun 01, 2024)
The OAX USD cryptocurrency price gained 1.02% on the last trading day (Saturday, 1st Jun 2024), rising from $0.226 to $0.228. During the last trading day the cryptocurrency fluctuated 4.41% from a day low at $0.222 to a day high of $0.232. The price has risen in 5 of the last 10 days and is up by 0.22% over the past 2 weeks. Volume fell on the last day by -455 thousand shares and in total, 1 million shares were bought and sold for approximately $280.57 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 weak 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 2.06% during the next 3 months and, with a 90% probability hold a price between $0.179 and $0.445 at the end of this 3-month period.
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OAXUSD Signals & Forecast
The OAX 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 $0.229. On a fall, the cryptocurrency will find some support from the long-term average at approximately $0.222. 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. 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 Sunday, March 31, 2024, and so far it has fallen -46.93%. Further fall is indicated until a new bottom pivot has been found. 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 also not.
Support, Risk & Stop-loss for OAX USD cryptocurrency
OAX USD finds support from accumulated volume at $0.225 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the cryptocurrency moved $0.0098 between high and low, or 4.41%. For the last week the cryptocurrency has had daily average volatility of 7.50%.
Our recommended stop-loss: $0.216 (-5.42%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 72 days ago.)
Trading Expectations (OAXUSD) For The Upcoming Trading Day Of Sunday 2nd
For the upcoming trading day on Sunday, 2nd we expect OAX USD to open at $0.227, and during the day (based on 14 day Average True Range), to move between $0.209 and $0.248, which gives a possible trading interval of +/-$0.0195 (+/-8.54%) up or down from last closing price. If OAX USD takes out the full calculated possible swing range there will be an estimated 17.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.225 (1.36%) than the resistance at $0.241 (5.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is OAX USD cryptocurrency A Buy?
OAX 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.624 Hold/Accumulate Downgraded
Predicted Opening Price for OAX USD of Sunday, June 2, 2024
| Fair opening price June 2, 2024 | Current price |
|---|---|
| $0.227 ( 0.380%) | $0.228 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OAXUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.237 | 3.91 % | |
| R2 | 0.233 | 2.27 % | ||
| R1 | 0.231 | 1.26 % | ||
| Current price: | 0.228 | |||
| Support | S1 | 0.224 | -2.02 % | |
| S2 | 0.221 | -3.03 % | ||
| S3 | 0.218 | -4.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.279 | 22.44 % | |
| R2 | 0.255 | 11.74 % | ||
| R1 | 0.241 | 5.39 % | ||
| Current price | 0.228 | |||
| Support | S1 | 0.225 | -1.36% | |
| S2 | 0.224 | -2.06% | ||
| S3 | 0.195 | -14.72% |
FAQ
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