SOL.X in downward trend: price dove below 50-day moving average on June 11, 2024
SOL.X moved below its 50-day moving average on June 11, 2024 date and that indicates a change from an upward trend to a downward trend. In 30 of 38 similar past instances, the stock price decreased further within the following month. The odds of a continued downward trend are 79%.
Technical Analysis (Indicators)
Bearish Trend Analysis
The 10-day RSI Indicator for SOL.X moved out of overbought territory on May 21, 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 45 similar instances where the indicator moved out of overbought territory. In 30 of the 45 cases, the stock moved lower in the following days. This puts the odds of a move lower at 67%.
The Momentum Indicator moved below the 0 level on June 07, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on SOL.X as a result. In 66 of 109 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 61%.
The Moving Average Convergence Divergence Histogram (MACD) for SOL.X turned negative on May 28, 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 A.I.dvisor looked at 54 similar instances when the indicator turned negative. In 32 of the 54 cases the stock turned lower in the days that followed. This puts the odds of success at 59%.
The 10-day moving average for SOL.X crossed bearishly below the 50-day moving average on June 15, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In 11 of 15 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 73%.
$SOL
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