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FXS.X Crypto Tickeron detected bearish Crypto Pattern: Head-and-Shoulders Top on May 31, 2024

A.I.dvisor
at Tickeron.com
06/01/24
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Head-and-Shoulders Top
FXS.X - Frax Share cryptocurrency
Emerged: 05/31/24
Breakout: $4.47
Price: $4.71
Target price: $4.17
A.I.dvisor detected a bearish Head-and-Shoulders Top pattern for FXS.X stock. This pattern was detected on May 31, 2024 . The odds of reaching the target price are 6. The pattern forms with a center peak (the Head, labeled 3) and left and right Shoulders (1, 5). Eventually the security stops testing highs and reverses trend into a decline. Consider selling a security short before it declines or buying a put option to benefit from the price decline. To improve success chances, wait for a confirmation move: allow the price to break below the Neckline level (2, 4), which is calculated as the average of the two lows between the Head and the Shoulders.

FXS.X saw its Stochastic Oscillator recovers from the overbought zone

The Stochastic Oscillator for FXS.X moved out of overbought territory on September 16, 2024. This could be a bearish sign for the stock and investors may want to consider selling or taking a defensive position. A.I.dvisor looked at 33 similar instances where the indicator exited the overbought zone. In of the 33 cases the stock moved lower. This puts the odds of a downward move at .

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