x42 Protocol USD Stock Forecast

Volatile ride for x42 Protocol USD stock price on Thursday moving between $0.0120 and $0.0240
(Updated on Jul 04, 2024)

X42USD Signals & Forecast

The x42 Protocol USD stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.0136. On a fall, the stock will find some support from the long-term average at approximately $0.0061. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Wednesday, July 03, 2024, and so far it has fallen -49.61%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for x42 Protocol USD stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0114 and $0.0102. 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, x42 Protocol USD finds support just below today's level at $0.0114. If this is broken, then the next support from accumulated volume will be at $0.0102 and $0.0096.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0119 between high and low, or 99.04%. For the last week the stock has had daily average volatility of 60.42%.

Our recommended stop-loss: $0.0115 (-5.90%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 33 days ago.)

Trading Expectations (X42USD) For The Upcoming Trading Day Of Friday 5th

For the upcoming trading day on Friday, 5th we expect x42 Protocol USD to open at $0.0161, and during the day (based on 14 day Average True Range), to move between $0.0078 and $0.0167, which gives a possible trading interval of +/-$0.0045 (+/-36.60%) up or down from last closing price. If x42 Protocol USD takes out the full calculated possible swing range there will be an estimated 73.19% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0114 (6.86%) than the resistance at $0.0145 (18.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is x42 Protocol USD stock A Buy?

x42 Protocol 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.

Current score: -0.414 Hold/Accumulate Downgraded

Predicted Opening Price for x42 Protocol USD of Friday, July 5, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.