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Volatile ride for Farmmi Inc. stock price on Monday moving between $0.27 and $0.31

StockInvest.us, 4 months ago

StockInvest.us

The Farmmi Inc. stock price fell by -51.30% on the last day (Monday, 13th Sep 2021) from $0.58 to $0.28. During the day the stock fluctuated 14.18% from a day low at $0.27 to a day high of $0.31. The price has risen in 6 of the last 10 days, but is still down by -28.44% for this period. Volume has increased on the last day by 61 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 291 million shares were bought and sold for approximately $81.60 million.

The stock has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($0.34) are considered to be a "second chance" to get out. According to the fan-theory $0.0993 will represent the new bottom line of the next trend, but it is far too early to say this for certain.

Farmmi Inc.

Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Farmmi Inc. stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.42 and $0.40. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, September 10, 2021, and so far it has fallen -51.30%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 $0.0380 between high and low, or 14.18%. For the last week, the stock has had a daily average volatility of 12.63%.

Farmmi 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.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.

Check full Farmmi Inc. forecast and analysis here.