Qbao USD Cryptocurrency Forecast
Qbao USD cryptocurrency upgraded from Hold/Accumulate to Buy Candidate after Saturday trading session.
(Updated on Jun 01, 2024)
The Qbao USD cryptocurrency price gained 1.54% on the last trading day (Saturday, 1st Jun 2024), rising from $0.0019 to $0.0019. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the cryptocurrency fluctuated 0.523% from a day low at $0.0019 to a day high of $0.0019. The price has risen in 7 of the last 10 days and is up by 12.68% over the past 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 10 thousand shares were bought and sold for approximately $19.45 . 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 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 $0.0020 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 -14.45% during the next 3 months and, with a 90% probability hold a price between $0.0014 and $0.0017 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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QBTUSD Signals & Forecast
The Qbao USD 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 $0.0019 and $0.0018. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 22, 2024, and so far it has risen 12.68%. 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 Qbao USD cryptocurrency
Qbao USD finds support from accumulated volume at $0.0019 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the cryptocurrency moved $0.00001 between high and low, or 0.523%. For the last week the cryptocurrency has had daily average volatility of 4.71%.
Our recommended stop-loss: $0.0018 (-3.46%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (QBTUSD) For The Upcoming Trading Day Of Sunday 2nd
For the upcoming trading day on Sunday, 2nd we expect Qbao USD to open at $0.0019, and during the day (based on 14 day Average True Range), to move between $0.0018 and $0.0021, which gives a possible trading interval of +/-$0.0001 (+/-7.83%) up or down from last closing price. If Qbao USD takes out the full calculated possible swing range there will be an estimated 15.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0019 (0.16%) than the resistance at $0.0020 (2.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Qbao USD 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. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.221 Buy Candidate Upgraded
Predicted Opening Price for Qbao USD of Sunday, June 2, 2024
| Fair opening price June 2, 2024 | Current price |
|---|---|
| $0.0019 ( 0.174%) | $0.0019 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QBTUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0019 | 0.698 % | |
| R2 | 0.0019 | 0.498 % | ||
| R1 | 0.0019 | 0.374 % | ||
| Current price: | 0.0019 | |||
| Support | S1 | 0.0019 | -0.0255 % | |
| S2 | 0.0019 | -0.149 % | ||
| S3 | 0.0019 | -0.349 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0020 | 7.12 % | |
| R2 | 0.0020 | 6.38 % | ||
| R1 | 0.0020 | 2.62 % | ||
| Current price | 0.0019 | |||
| Support | S1 | 0.0019 | -0.157% | |
| S2 | 0.0019 | -1.73% | ||
| S3 | 0.0019 | -2.04% |
FAQ
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