SOL in downward trend: price expected to drop as it breaks its higher Bollinger Band on November 21, 2024
SOL broke above its upper Bollinger Band on November 21, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options. The AI looked at 84 similar instances where the stock broke above the upper band. In 53 of the 84 cases the stock fell afterwards. This puts the odds of success at 63%.
TA (Indicators)
Bearish Trend Analysis
The 10-day RSI Indicator for SOL.X moved out of overbought territory on November 25, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 47 similar instances where the indicator moved out of overbought territory. In 26 of the 47 cases, the stock moved lower in the following days. This puts the odds of a move lower at 55%.
The Momentum Indicator moved below the 0 level on December 01, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on SOL.X as a result. In 74 of 120 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 62%.
The Moving Average Convergence Divergence Histogram (MACD) for SOL.X turned negative on November 26, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's AI looked at 57 similar instances when the indicator turned negative. In 34 of the 57 cases the stock turned lower in the days that followed. This puts the odds of success at 60%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SOL.X declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 62%.
$SOL
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