Polymath / US Dollar 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
Big movements in Polymath / US Dollar cryptocurrency price on Sunday moving 37.65% between high and low
(Updated on Jun 16, 2024)
The Polymath / US Dollar cryptocurrency price gained 13.33% on the last trading day (Sunday, 16th Jun 2024), rising from $0.100 to $0.114. During the last trading day the cryptocurrency fluctuated 37.65% from a day low at $0.104 to a day high of $0.144. The price has risen in 6 of the last 10 days and is up by 59.42% over the past 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 6 thousand shares were bought and sold for approximately $731.26 . 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 the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.118 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the cryptocurrency is expected to fall -15.91% during the next 3 months and, with a 90% probability hold a price between $0.0485 and $0.0993 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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POLYUSD Signals & Forecast
The Polymath / US Dollar cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.100 and $0.0867. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 28.16%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Polymath / US Dollar cryptocurrency
Polymath / US Dollar finds support from accumulated volume at $0.111 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 very much during the day (volatility) and with periodic low trading volume this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0393 between high and low, or 37.65%. For the last week the cryptocurrency has had daily average volatility of 28.54%.
Our recommended stop-loss: $0.110 (-3.32%) (This cryptocurrency has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (POLYUSD) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Polymath / US Dollar to open at $0.121, and during the day (based on 14 day Average True Range), to move between $0.0912 and $0.137, which gives a possible trading interval of +/-$0.0227 (+/-19.90%) up or down from last closing price. If Polymath / US Dollar takes out the full calculated possible swing range there will be an estimated 39.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.111 (2.49%) than the resistance at $0.117 (2.94%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Polymath / US Dollar cryptocurrency A Buy?
Several short-term signals are positive, despite the cryptocurrency being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for cryptocurrency to perform well in the short-term.
Current score: 2.767 Buy Candidate Unchanged
Predicted Opening Price for Polymath / US Dollar of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $0.121 ( 6.00%) | $0.114 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for POLYUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.160 | 40.54% |
| R2 | 0.145 | 27.35% |
| R1 | 0.136 | 19.20% |
| Price | 0.114 | |
| S1 | 0.106 | -7.19% |
| S2 | 0.0964 | -15.34% |
| S3 | 0.0814 | -28.53% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.126 | 11.00% |
| R2 | 0.120 | 4.97% |
| R1 | 0.117 | 2.94% |
| Price | 0.114 | |
| S1 | 0.111 | -2.49% |
| S2 | 0.100 | -11.73% |
| S3 | 0.0863 | -24.23% |
FAQ
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