OMG Network / US Dollar Cryptocurrency Forecast

Red day on Thursday for OMG Network / US Dollar
(Updated on May 16, 2024)

OMGUSD Signals & Forecast

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. The OMG Network / US Dollar cryptocurrency 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 cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $0.660. On a fall, the cryptocurrency will find some support from the short-term average at $0.639. 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 Wednesday, May 15, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for OMG Network / US Dollar cryptocurrency

OMG Network / US Dollar finds support from accumulated volume at $0.637 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the cryptocurrency tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the cryptocurrency During the last day, the cryptocurrency moved $0 between high and low, or 0%. For the last week the cryptocurrency has had daily average volatility of 5.82%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (OMGUSD) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect OMG Network / US Dollar to open at $0.650, and during the day (based on 14 day Average True Range), to move between $0.603 and $0.697, which gives a possible trading interval of +/-$0.0473 (+/-7.28%) up or down from last closing price. If OMG Network / US Dollar takes out the full calculated possible swing range there will be an estimated 14.56% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.637 (2.04%) than the resistance at $0.750 (15.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is OMG Network / US Dollar cryptocurrency A Buy?

OMG Network / US Dollar 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 cryptocurrency.

Current score: -3.209 Sell Candidate Unchanged

Predicted Opening Price for OMG Network / US Dollar of Friday, May 17, 2024

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