PEN/ARS Currency Pair Forecast

Red day on Friday for PEN/ARS
(Updated on May 17, 2024)

PENARS Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 0.0824%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The PEN/ARS currency pair 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 $103.57 and $207.80. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this currency pair may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for PEN/ARS currency pair

PEN/ARS finds support from accumulated volume at $2.38 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This currency pair may move very much during the day (volatility) and with periodic low trading volume this currency pair is considered to be "very high risk". During the last day, the currency pair moved $0.0104 between high and low, or 0.437%. For the last week the currency pair has had daily average volatility of 0.729%.

PEN/ARS is oversold on RSI14 (3). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

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

Trading Expectations (PENARS) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect PEN/ARS to open at $2.38, and during the day (based on 14 day Average True Range), to move between -$12.61 and $17.38, which gives a possible trading interval of +/-$14.99 (+/-629.73%) up or down from last closing price. If PEN/ARS takes out the full calculated possible swing range there will be an estimated 1 259.46% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $2.38 (0.08%) than the support at $2.38 (0.08%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is PEN/ARS currency pair A Buy?

PEN/ARS holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this currency pair.

Current score: -4.528 Sell Candidate Unchanged

Predicted Opening Price for PEN/ARS of Monday, May 20, 2024

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