Volatile ride for Farmmi Inc. stock price on Wednesday moving between $0.30 and $0.42StockInvest.us, 3 months ago
The Farmmi Inc. stock price gained 21.36% on the last trading day (Wednesday, 6th Oct 2021), rising from $0.32 to $0.39. During the day the stock fluctuated 37.37% from a day low at $0.30 to a day high of $0.42. The price has risen in 7 of the last 10 days and is up by 84.97% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 33 million more shares were traded than the day before. In total, 353 million shares were bought and sold for approximately $138.86 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 -21.70% during the next 3 months and, with a 90% probability hold a price between $0.15 and $0.36 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
The Farmmi Inc. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.35 and $0.34. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Thursday, September 30, 2021, and so far it has fallen -14.85%. Further fall is indicated until a new bottom pivot has been found.
On the downside, the stock finds support just below today's level from accumulated volume at $0.35 and $0.34.There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Farmmi Inc. finds support just below today's level at $0.35. If this is broken, then the next support from accumulated volume will be at $0.34 and $0.32.
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 $0.11 between high and low, or 37.37%. For the last week, the stock has had a daily average volatility of 32.82%.
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.