Agrify Corporation Stock Forecast
Agrify Corporation stock price down 1.84% on Wednesday
(Updated on May 01, 2024)
The Agrify Corporation stock price fell by -1.84% on the last day (Wednesday, 1st May 2024) from $0.304 to $0.298. During the last trading day the stock fluctuated 7.64% from a day low at $0.295 to a day high of $0.317. The price has been going up and down for this period, and there has been a -18.3% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -314 thousand shares and in total, 379 thousand shares were bought and sold for approximately $112.95 thousand.
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 -55.54% during the next 3 months and, with a 90% probability hold a price between $0.0977 and $0.156 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.
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AGFY Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 10.44%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month 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 Agrify Corporation 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 $0.345. On a fall, the stock will find some support from the short-term average at $0.289. 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. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Agrify Corporation stock
Agrify Corporation finds support from accumulated volume at $0.296 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 very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0225 between high and low, or 7.64%. For the last week the stock has had daily average volatility of 7.48%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AGFY) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Agrify Corporation to open at $0.303, and during the day (based on 14 day Average True Range), to move between $0.262 and $0.335, which gives a possible trading interval of +/-$0.0365 (+/-12.23%) up or down from last closing price. If Agrify Corporation takes out the full calculated possible swing range there will be an estimated 24.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.296 (0.80%) than the resistance at $0.304 (1.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Agrify Corporation stock A Buy?
Agrify Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.330 Sell Candidate Unchanged
Predicted Opening Price for Agrify Corporation of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $0.303 ( 1.69%) | $0.298 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AGFY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.326 | 9.23 % | |
| R2 | 0.317 | 6.35 % | ||
| R1 | 0.312 | 4.57 % | ||
| Current price: | 0.298 | |||
| Support | S1 | 0.295 | -1.19 % | |
| S2 | 0.289 | -2.98 % | ||
| S3 | 0.281 | -5.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.365 | 22.40 % | |
| R2 | 0.356 | 19.38 % | ||
| R1 | 0.304 | 1.88 % | ||
| Current price | 0.298 | |||
| Support | S1 | 0.296 | -0.80% | |
| S2 | 0.277 | -7.11% | ||
| S3 | 0.270 | -9.46% |
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