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Big movements in Famous Dave stock price on Thursday moving 29.67% between high and low

StockInvest.us, 1 week ago

StockInvest.us

The Famous Dave stock price gained 3.90% on the last trading day (Thursday, 6th Jan 2022), rising from $8.21 to $8.53. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 29.67% from a day low at $7.10 to a day high of $9.20. The price has risen in 6 of the last 10 days, but is still down by -14.27% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 178 thousand more shares were traded than the day before. In total, 357 thousand shares were bought and sold for approximately $3.05 million.

The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $7.86 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -27.88% during the next 3 months and, with a 90% probability hold a price between $5.67 and $9.34 at the end of this 3-month period.

Dave-a

A buy signal was issued from a pivot bottom point on Tuesday, January 04, 2022, and so far it has risen 6.36%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Famous Dave stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $9.01 and $11.97. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Famous Dave finds support from accumulated volume at $8.33 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $2.11 between high and low, or 29.67%. For the last week, the stock has had a daily average volatility of 16.79%.

Famous Dave is oversold on RSI14 (14). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Famous Dave holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Check full Dave-a forecast and analysis here.