High volatility in Farmmi Inc. stock price on Wednesday which ended trading at $0.34StockInvest.us, 2 weeks ago
The Farmmi Inc. stock price gained 41.25% on the last trading day (Wednesday, 29th Sep 2021), rising from $0.24 to $0.34. , and has now gained 4 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 66.97% from a day low at $0.22 to a day high of $0.37. The price has been going up and down for this period, and there has been a 34.92% gain 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, 435 million more shares were traded than the day before. In total, 727 million shares were bought and sold for approximately $247.11 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 -22.60% during the next 3 months and, with a 90% probability hold a price between $0.16 and $0.42 at the end of this 3-month period.
A buy signal was issued from a pivot bottom point on Friday, September 24, 2021, and so far it has risen 63.46%. 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 Farmmi Inc. stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $0.35. On a fall, the stock will find some support from the short-term average at $0.24. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
On the downside, the stock finds support just below today's level from accumulated volume at $0.28.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0 may give a huge drop in the stock price.
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 $0.15 between high and low, or 66.97%. For the last week, the stock has had a daily average volatility of 24.08%.
Farmmi Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.Check full Farmmi Inc. forecast and analysis here.