Omni Cryptocurrency Forecast

Evaluation of Omni cryptocurrency downgraded after the last trading session.
(Updated on May 20, 2024)

OMNIUSD Signals & Forecast

There are mixed signals in the cryptocurrency today. The Omni 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 $18.62. On a fall, the cryptocurrency will find some support from the short-term average at $14.67. 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 Sunday, April 21, 2024, and so far it has fallen -47.97%. Further fall is indicated until a new bottom pivot has been found. Omni gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Omni cryptocurrency

Omni finds support from accumulated volume at $14.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This cryptocurrency may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.170 between high and low, or 1.15%. For the last week, the cryptocurrency has had daily average volatility of 2.70%.

Omni is oversold on RSI14 (18). Some cryptocurrencies may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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

Trading Expectations (OMNIUSD) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Omni to open at $14.80, and during the day (based on 14 day Average True Range), to move between $12.98 and $16.52, which gives a possible trading interval of +/-$1.77 (+/-11.98%) up or down from last closing price. If Omni takes out the full calculated possible swing range there will be an estimated 23.96% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $14.55 (1.39%) than the resistance at $16.57 (12.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Omni cryptocurrency A Buy?

Omni 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.340 Sell Candidate Downgraded

Predicted Opening Price for Omni of Tuesday, May 21, 2024

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