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High volatility in Castor Maritime Inc. stock price on Tuesday which ended trading at $0.37

StockInvest.us, 3 months ago


The Castor Maritime Inc. stock price gained 2.74% on the last trading day (Tuesday, 25th May 2021), rising from $0.36 to $0.37. During the day the stock fluctuated 16.67% from a day low at $0.36 to a day high of $0.42. The price has been going up and down for this period, and there has been a -10.39% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 million more shares were traded than the day before. In total, 166 million shares were bought and sold for approximately $62.22 million.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -60.04% during the next 3 months and, with a 90% probability hold a price between $0.0909 and $0.18 at the end of this 3-month period.

Castor Maritime Inc.

A buy signal was issued from a pivot bottom point on Monday, May 24, 2021, and so far it has risen 2.74%. 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 Castor Maritime Inc. 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 $0.42 and $0.46. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD).

Castor Maritime Inc. finds support from accumulated volume at $0.36 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0600 between high and low, or 16.67%. For the last week, the stock has had a daily average volatility of 7.62%.

Castor Maritime Inc. 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 Candidate to a Sell Candidate candidate.

Check full Castor Maritime Inc. forecast and analysis here.