Ocean Protocol USD Stock Forecast
High volatility in Ocean Protocol USD stock price on Friday which ended trading at $0.602
(Updated on Jun 28, 2024)
The Ocean Protocol USD stock price fell by -5.97% on the last day (Friday, 28th Jun 2024) from $0.640 to $0.602. During the last trading day the stock fluctuated 15.13% from a day low at $0.564 to a day high of $0.650. The price has been going up and down for this period, and there has been a 19.79% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -26 million shares and in total, 43 million shares were bought and sold for approximately $25.96 million.
The stock 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 stock is expected to fall -33.48% during the next 3 months and, with a 90% probability hold a price between $0.298 and $0.650 at the end of this 3-month period.
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OCEANUSD Signals & Forecast
There are mixed signals in the stock today. The Ocean Protocol USD stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.640 and $0.752. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 19.79%. 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).
Support, Risk & Stop-loss for Ocean Protocol USD stock
Ocean Protocol USD finds support from accumulated volume at $0.599 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0854 between high and low, or 15.13%. For the last week, the stock has had daily average volatility of 14.04%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OCEANUSD) For The Upcoming Trading Day Of Saturday 29th
For the upcoming trading day on Saturday, 29th we expect Ocean Protocol USD to open at $0.605, and during the day (based on 14 day Average True Range), to move between $0.525 and $0.679, which gives a possible trading interval of +/-$0.0772 (+/-12.82%) up or down from last closing price. If Ocean Protocol USD takes out the full calculated possible swing range there will be an estimated 25.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.599 (0.40%) than the resistance at $0.655 (8.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ocean Protocol USD stock A Buy?
Ocean Protocol USD holds several negative signals and we believe that 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: -3.396 Sell Candidate Upgraded
Predicted Opening Price for Ocean Protocol USD of Saturday, June 29, 2024
Fair opening price June 29, 2024 | Current price |
---|---|
$0.605 ( 0.587%) | $0.602 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OCEANUSD
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.691 | 14.78% |
R2 | 0.658 | 9.36% |
R1 | 0.638 | 6.01% |
Price | 0.602 | |
S1 | 0.573 | -4.83% |
S2 | 0.553 | -8.18% |
S3 | 0.520 | -13.60% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.733 | 21.77% |
R2 | 0.668 | 11.03% |
R1 | 0.655 | 8.79% |
Price | 0.602 | |
S1 | 0.599 | -0.399% |
S2 | 0.569 | -5.53% |
S3 | 0.502 | -16.52% |
FAQ
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