Peer to Peer Network Stock Forecast
Red day on Friday for Peer to Peer Network stock after losing 0%
(Updated on Jun 28, 2024)
No changes to the price of Peer to Peer Network stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0003 to a day high of $0.0003. The price has been going up and down for this period, and there has been a 50% gain for the last 2 weeks.
The stock has broken the very wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $0.0003 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $0.0005 sometime during the next 3 months.
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PTOP Signals & Forecast
The Peer to Peer Network stock 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 $0.0003 and $0.0002. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, June 27, 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.
A buy signal from a double bottom formation was found on Tuesday, June 11, 2024 with a target of $0.0003. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Peer to Peer Network stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0003 and $0.0002. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0002 may give a huge drop in the stock price.
In general the stock 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 stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%
The Peer to Peer Network stock is extremely overbought on RSI14 (71). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $0.0003 (-3.58%) (This stock has low daily movements and this gives low risk. The RSI14 is 71 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (PTOP) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Peer to Peer Network to open at $0.0003, and during the day (based on 14 day Average True Range), to move between $0.0003 and $0.0003, which gives a possible trading interval of +/-$0.00002022 (+/-6.74%) up or down from last closing price. If Peer to Peer Network takes out the full calculated possible swing range there will be an estimated 13.48% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.0003, some $0.00005 (16.67%) from the current price of $0.0003, our system finds the risk reward attractive.
Is Peer to Peer Network stock A Buy?
Peer to Peer Network holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Peer to Peer Network of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.0003 ( 0%) | $0.0003 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PTOP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0003 | - |
| R2 | 0.0003 | - |
| R1 | 0.0003 | - |
| Price | 0.0003 | |
| S1 | 0.0003 | - |
| S2 | 0.0003 | - |
| S3 | 0.0003 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.0003 | |
| S1 | 0.0003 | -16.67% |
| S2 | 0.0002 | -20.00% |
| S3 | 0 | - |
FAQ
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