swETH USD Stock Forecast
A very red day for swETH USD stock price after a -5.42% fall in the Tuesday trading session
(Updated on Jun 18, 2024)
The swETH USD stock price fell by -5.42% on the last day (Tuesday, 18th Jun 2024) from $3,800.54 to $3,594.50. During the last trading day the stock fluctuated 3.43% from a day low at $3,591.25 to a day high of $3,714.38. The price has fallen in 5 of the last 10 days and is down by -7.71% for this period. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $7.41 billion.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.35% during the next 3 months and, with a 90% probability hold a price between $3,488.05 and $4,611.77 at the end of this 3-month period.
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SWETHUSD Signals & Forecast
There are few to no technical positive signals at the moment. The swETH USD stock 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 $3,706.65 and $3,791.31. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 27, 2024, and so far it has fallen -12.97%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for swETH USD stock
On the downside, the stock finds support just below today's level from accumulated volume at $3,212.97 and $3,202.12. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, swETH USD finds support just below today's level at $3,212.97. If this is broken, then the next support from accumulated volume will be at $3,202.12 and $3,144.92.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $123.13 between high and low, or 3.43%. For the last week, the stock has had daily average volatility of 2.32%.
Our recommended stop-loss: $3,399.68 (-5.42%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 39 days ago.)
Trading Expectations (SWETHUSD) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect swETH USD to open at $3,633.37, and during the day (based on 14 day Average True Range), to move between $3,478.21 and $3,710.79, which gives a possible trading interval of +/-$116.29 (+/-3.24%) up or down from last closing price. If swETH USD takes out the full calculated possible swing range there will be an estimated 6.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3,911.89 (8.83%) than the support at $3,212.97 (10.61%), 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 swETH USD stock A Buy?
swETH USD holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
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 swETH USD of Wednesday, June 19, 2024
| Fair opening price June 19, 2024 | Current price |
|---|---|
| $3,633.37 ( 1.08%) | $3,594.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SWETHUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,756.51 | 4.51% |
| R2 | 3,709.47 | 3.20% |
| R1 | 3,680.41 | 2.39% |
| Price | 3,594.50 | |
| S1 | 3,586.34 | -0.227% |
| S2 | 3,557.28 | -1.04% |
| S3 | 3,510.24 | -2.34% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,946.90 | 9.80% |
| R2 | 3,922.16 | 9.12% |
| R1 | 3,911.89 | 8.83% |
| Price | 3,594.50 | |
| S1 | 3,212.97 | -10.61% |
| S2 | 3,202.12 | -10.92% |
| S3 | 3,144.92 | -12.51% |
FAQ
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