Momentum Indicator for BITI turns negative, indicating new downward trend
BITI saw its Momentum Indicator move below the 0 level on December 10, 2024. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 52 similar instances where the indicator turned negative. In of the 52 cases, the stock moved further down in the following days. The odds of a decline are at .
Technical Analysis (Indicators)
Bearish Trend Analysis
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BITI declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for BITI entered a downward trend on December 17, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The RSI Indicator demonstrates that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.
The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.
The Moving Average Convergence Divergence (MACD) for BITI just turned positive on November 27, 2024. Looking at past instances where BITI's MACD turned positive, the stock continued to rise in of 19 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BITI advanced for three days, in of 124 cases, the price rose further within the following month. The odds of a continued upward trend are .
BITI may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
General Information
Category Trading
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BITI and ETFs
Correlation & Price change
A.I.dvisor indicates that over the last year, BITI has been loosely correlated with VIXY. These tickers have moved in lockstep 34% of the time. This A.I.-generated data suggests there is some statistical probability that if BITI jumps, then VIXY could also see price increases.
| Ticker / NAME | Correlation To BITI | 1D Price Change % | ||
|---|---|---|---|---|
| BITI | 100% | -0.85% | ||
| VIXY - BITI | 34% Loosely correlated | +2.28% | ||
| VIXM - BITI | 34% Loosely correlated | +0.55% | ||
| VXZ - BITI | 33% Loosely correlated | +0.50% | ||
| UVXY - BITI | 18% Poorly correlated | +3.20% | ||
| VXX - BITI | 14% Poorly correlated | +2.48% | ||
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