DeFi Technologies Inc. Stock Forecast
DeFi Technologies Inc. stock downgraded to Hold/Accumulate
(Updated on May 03, 2024)
The DeFi Technologies Inc. stock price gained 4.49% on the last trading day (Friday, 3rd May 2024), rising from $0.555 to $0.580. It has now gained 3 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 last trading day the stock fluctuated 9.07% from a day low at $0.537 to a day high of $0.585. The price has risen in 6 of the last 10 days and is up by 3.54% over the past 2 weeks. Volume fell on the last day by -109 thousand shares and in total, 206 thousand shares were bought and sold for approximately $119.44 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 22.60% during the next 3 months and, with a 90% probability hold a price between $0.609 and $0.90 at the end of this 3-month period.
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DEFTF Signals & Forecast
The DeFi Technologies Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.545 and $0.547. A breakdown below any of these levels will issue sell signals. 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 Monday, April 08, 2024, and so far it has fallen -15.97%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for DeFi Technologies Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.540 and $0.500. There is a 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, DeFi Technologies Inc. finds support just below today's level at $0.540. If this is broken, then the next support from accumulated volume will be at $0.500 and $0.475.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0487 between high and low, or 9.07%. For the last week the stock has had daily average volatility of 11.07%.
Our recommended stop-loss: $0.558 (-3.84%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (DEFTF) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect DeFi Technologies Inc. to open at $0.567, and during the day (based on 14 day Average True Range), to move between $0.517 and $0.643, which gives a possible trading interval of +/-$0.0634 (+/-10.93%) up or down from last closing price. If DeFi Technologies Inc. takes out the full calculated possible swing range there will be an estimated 21.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.540 (6.88%) than the resistance at $0.625 (7.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is DeFi Technologies Inc. stock A Buy?
DeFi Technologies Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.459 Hold/Accumulate Downgraded
Predicted Opening Price for DeFi Technologies Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.567 ( 2.17%) | $0.580 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DEFTF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.616 | 6.23 % | |
| R2 | 0.597 | 3.02 % | ||
| R1 | 0.586 | 1.04 % | ||
| Current price: | 0.580 | |||
| Support | S1 | 0.549 | -5.37 % | |
| S2 | 0.537 | -7.36 % | ||
| S3 | 0.519 | -10.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.690 | 19.00 % | |
| R2 | 0.662 | 14.19 % | ||
| R1 | 0.625 | 7.76 % | ||
| Current price | 0.580 | |||
| Support | S1 | 0.540 | -6.88% | |
| S2 | 0.500 | -13.78% | ||
| S3 | 0.475 | -18.09% |
FAQ
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