Scotty Beam USD Cryptocurrency Forecast
Scotty Beam USD cryptocurrency upgraded to Hold/Accumulate.
(Updated on May 08, 2024)
The Scotty Beam USD cryptocurrency price gained 4.97% on the last trading day (Wednesday, 8th May 2024), rising from $0.0040 to $0.0042. During the last trading day the cryptocurrency fluctuated 5.38% from a day low at $0.0040 to a day high of $0.0042. The price has fallen in 7 of the last 10 days but is still up by 0.65% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 14 thousand more shares were traded than the day before. In total, 89 thousand shares were bought and sold for approximately $371.98 .
The cryptocurrency lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0027 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 7.20% during the next 3 months and, with a 90% probability hold a price between $0.0029 and $0.0139 at the end of this 3-month period.
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SCOTTYUSD Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Scotty Beam USD has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Scotty Beam USD 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 $0.0048. On a fall, the cryptocurrency will find some support from the short-term average at $0.0040. 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 Thursday, March 07, 2024, and so far it has fallen -66.13%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Scotty Beam USD cryptocurrency
Scotty Beam USD finds support from accumulated volume at $0.0042 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 and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.0002 between high and low, or 5.38%. For the last week, the cryptocurrency has had daily average volatility of 4.18%.
Our recommended stop-loss: $0.0039 (-5.94%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 62 days ago.)
Trading Expectations (SCOTTYUSD) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Scotty Beam USD to open at $0.0041, and during the day (based on 14 day Average True Range), to move between $0.0038 and $0.0045, which gives a possible trading interval of +/-$0.0004 (+/-8.44%) up or down from last closing price. If Scotty Beam USD takes out the full calculated possible swing range there will be an estimated 16.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0042 (0.50%) than the support at $0.0042 (0.65%), 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 Scotty Beam USD cryptocurrency A Buy?
Scotty Beam USD 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. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.696 Hold/Accumulate Upgraded
Predicted Opening Price for Scotty Beam USD of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $0.0041 ( 1.55%) | $0.0042 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCOTTYUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0043 | 3.57 % | |
| R2 | 0.0043 | 1.62 % | ||
| R1 | 0.0042 | 0.408 % | ||
| Current price: | 0.0042 | |||
| Support | S1 | 0.0040 | -3.50 % | |
| S2 | 0.0040 | -4.71 % | ||
| S3 | 0.0039 | -6.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0047 | 12.81 % | |
| R2 | 0.0044 | 5.33 % | ||
| R1 | 0.0042 | 0.502 % | ||
| Current price | 0.0042 | |||
| Support | S1 | 0.0042 | -0.645% | |
| S2 | 0.0041 | -2.49% | ||
| S3 | 0.0039 | -6.02% |
FAQ
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