BCH.X's RSI Indicator leaves overbought zone
The 10-day RSI Indicator for BCH.X moved out of overbought territory on April 07, 2024. This could be a sign that the stock is shifting from an upward trend to a downward trend. Traders may want to look at selling the stock or buying put options. Tickeron's AI looked at 54 instances where the indicator moved out of the overbought zone. In 38 of the 54 cases the stock moved lower in the days that followed. This puts the odds of a move down at 70%.
The Momentum Indicator moved below the 0 level on April 28, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on BCH.X as a result. In 56 of 150 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 37%.
The Moving Average Convergence Divergence Histogram (MACD) for BCH.X turned negative on April 10, 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 61 similar instances when the indicator turned negative. In 29 of the 61 cases the stock turned lower in the days that followed. This puts the odds of success at 48%.
BCH.X moved below its 50-day moving average on April 23, 2024 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for BCH.X crossed bearishly below the 50-day moving average on April 20, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In 9 of 27 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 33%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BCH.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 40%.
