Volatile ride for Farmmi Inc. stock price on Wednesday moving between $0.36 and $0.44StockInvest.us, 2 months ago
The Farmmi Inc. stock price gained 1.69% on the last trading day (Wednesday, 27th Oct 2021), rising from $0.36 to $0.36. , 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 23.94% from a day low at $0.36 to a day high of $0.44. The price has fallen in 6 of the last 10 days, but is still up by 0.92% 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, 100 million more shares were traded than the day before. In total, 329 million shares were bought and sold for approximately $118.78 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 -17.28% during the next 3 months and, with a 90% probability hold a price between $0.14 and $0.43 at the end of this 3-month period.
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 $0.33 and $0.32. A breakdown below any of these levels will issue sell signals. 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 -21.95%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Farmmi Inc. finds support from accumulated volume at $0.35 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 $0.0850 between high and low, or 23.94%. For the last week, the stock has had a daily average volatility of 15.02%.
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.Check full Farmmi Inc. forecast and analysis here.