TTOO stock price is gaining momentum and breaking above the 50, 100, and 200-day EMAs, indicating bullishness in the previous trading sessions. The chart also shows a bullish candle, with its 100 EMA breached as the stock is expected to show a sharp rally.
Buyers have regained strength and are aiming for the $0.7084 level in the coming sessions. The chart structure shows volatility in the previous months, with the stock facing rejections from the supply range of $0.7000. The lower levels near $0.2377 acted as a support region.
Furthermore, the stock’s trajectory shows that beyond $0.7084, the zone is bullish, where a rally is likely. But, if further rejection takes place, then the stock will continue to trade in the congestion zone. Similarly, below $0.2377, bearishness could be extended.
At press time, TTOO stock was trading at $0.4589 with an intraday gain of 65.55% breaking above the 100-day EMA, and showing bullishness on the charts. Moreover, the intraday trading volume is 424.216 Million, and the average 10-day volume of 85.63 Million. The market cap of TTOO stock is $153.08 Million.
Technical Analysis of TTOO Stock Price in 1-D Timeframe
Currently, TTOO stock price is trading above the 50 and 100-day EMAs (exponential moving averages), which are supporting the price momentum.
However, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Hence, the TTOO price is expected to move upwards giving bullish views over the daily time frame chart.
The current value of RSI is 60.96 points. The 14 SMA is above the median line at 48.55 points which indicates that the TTOO stock is bullish. The MACD line at 0.0029 and the signal line at 0.0056 are above the zero line. A bearish crossover is observed in the MACD indicator which signals weakness in the momentum of the T2 Biosystems stock price.
Short-Time Horizon Analysis
TTOO stock chart shows buyers’ strength. Moreover, the price traded above the key EMAs, which shows further strength in the stock. The RSI curve is near the oversold region at 68, and a positive outlook was noted, indicating bullishness in the stock. The MACD indicator also persisted to form green bars, and a bullish crossover was noted, which signals bullish moves.
Summary
TTOO stock price technical oscillators also support the bullish trend. MACD, RSI, and EMA are giving positive signals, suggesting that the uptrend is likely to continue. On the 1-day time frame, price action suggests investors and traders are bullish. There is a bullish perspective reflected in the price action at the moment. However, investors and traders should avoid FOMO by waiting for proper setups before moving forward.
Technical Levels
- Support Levels: $0.0704 and $0.3852.
- Resistance Levels: $0.6278 and $0.9426.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/09/19/ttoo-stock-forecast-buy-sell-or-hold-t2-biosystems-stock/