📈 STEEM Investor Report 28 April 2017

Trading Recommendation:

Look for trades on hourly trends, price may be stabilizing in current channel ($0.22 to $0.26), maintain stop loss at $0.20

Investment Recommendation:

SELL or HOLD, fundamentals continue to decay, price to remain at this level or decline

Analyst Commentary:

The STEEM price rose 5.31% verse the USD over the past 24 hours on close to average volume ($810,537) as the Bitcoin rally stalled and most altcoins surged as trading activity moved back into them. The STEEM price has returned to the high end of the $0.22 to $0.26 trading range and if it can break out over $0.26 with momentum I would expect a large run to follow. Active accounts fell slightly and the % vested indicator fell only slightly on a moderate power down day indicating some investment is occurring but not enough to overcome power downs. The price of SBD has increased again and remains at an elevated level, look for arbitrage opportunities. For traders, I would pay close attention to the current price channel and place a stop loss below to price channel in case the price moves down quickly ($0.20 level). On the investor side, the % vested indicator remains in its downtrend and therefore I expect the price to remain stable or decline from here.

I'm on the road for the next week so reports will be coming through whenever I get downtime to produce them.

Data Credit:

Steemchart.com
Coinmarketcap.com
Steemdb.com

Disclosure:

The report published above is based on my assessment of the cryptocurrency market. Investors should consider this report as only a single factor in making their investment decision. All investments involve market risk, including possible loss of principal invested. The author is a cryptocurrency investor and while he seeks to provide honest assessments to the best of his ability may have a conflict of interest that could affect the objectivity of this report.