tGOLD USD 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
tGOLD USD cryptocurrency upgraded to Buy Candidate.
(Updated on May 20, 2024)
The tGOLD USD cryptocurrency price gained 3.04% on the last trading day (Monday, 20th May 2024), rising from $72.44 to $74.64. During the last trading day the cryptocurrency fluctuated 3.63% from a day low at $72.17 to a day high of $74.79. The price has risen in 5 of the last 10 days and is up by 2.28% 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, 277 more shares were traded than the day before. In total, 643 shares were bought and sold for approximately $47.99 thousand.
The cryptocurrency lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to rise 29.79% during the next 3 months and, with a 90% probability hold a price between $92.32 and $109.30 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
TXAUUSD Signals & Forecast
The tGOLD USD cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the cryptocurrency has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $72.52 and $73.85. 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). tGOLD 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. A sell signal was issued from a pivot top point on Tuesday, April 16, 2024, and so far it has fallen -2.85%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for tGOLD USD cryptocurrency
tGOLD USD finds support from accumulated volume at $74.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the cryptocurrency tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the cryptocurrency moved $2.62 between high and low, or 3.63%. For the last week the cryptocurrency has had daily average volatility of 2.67%.
Our recommended stop-loss: $70.20 (-5.94%) (This cryptocurrency has low daily movements and this gives low risk. There is a sell signal from a pivot top found 64 days ago.)
Trading Expectations (TXAUUSD) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect tGOLD USD to open at $73.87, and during the day (based on 14 day Average True Range), to move between $73.17 and $76.11, which gives a possible trading interval of +/-$1.47 (+/-1.97%) up or down from last closing price. If tGOLD USD takes out the full calculated possible swing range there will be an estimated 3.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $74.64 (0.01%) than the support at $74.60 (0.05%), 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 tGOLD USD cryptocurrency A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for tGOLD USD cryptocurrency to perform well in the short-term. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Buy candidate.
Current score: 1.619 Buy Candidate Upgraded
Predicted Opening Price for tGOLD USD of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $73.87 ( 1.03%) | $74.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TXAUUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 76.49 | 2.48 % | |
| R2 | 75.49 | 1.14 % | ||
| R1 | 74.87 | 0.308 % | ||
| Current price: | 74.64 | |||
| Support | S1 | 72.87 | -2.37 % | |
| S2 | 72.25 | -3.20 % | ||
| S3 | 71.25 | -4.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 76.59 | 2.61 % | |
| R2 | 76.41 | 2.37 % | ||
| R1 | 74.64 | 0.0051 % | ||
| Current price | 74.64 | |||
| Support | S1 | 74.60 | -0.0494% | |
| S2 | 74.55 | -0.118% | ||
| S3 | 73.57 | -1.42% |
FAQ
Click here for our free guide on how to buy tGOLD USD Cryptocurrency.
