DeFi Technologies Inc. Stock Forecast
Big movements in DeFi Technologies Inc. stock price on Friday moving 18.46% between high and low
(Updated on May 17, 2024)
The DeFi Technologies Inc. stock price gained 12.60% on the last trading day (Friday, 17th May 2024), rising from $0.670 to $0.754. 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 18.46% from a day low at $0.650 to a day high of $0.770. The price has risen in 6 of the last 10 days and is up by 30.09% over the past 2 weeks. Volume fell on the last day by -767 thousand shares and in total, 965 thousand shares were bought and sold for approximately $728.12 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 upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $0.780 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 32.90% during the next 3 months and, with a 90% probability hold a price between $0.705 and $1.04 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. 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 $0.636 and $0.591. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 53.96%. 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. 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 $0.670 and $0.662. 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 $0.670. If this is broken, then the next support from accumulated volume will be at $0.662 and $0.625.
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 $0.120 between high and low, or 18.46%. For the last week the stock has had daily average volatility of 11.76%.
Our recommended stop-loss: $0.731 (-3.04%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (DEFTF) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect DeFi Technologies Inc. to open at $0.725, and during the day (based on 14 day Average True Range), to move between $0.692 and $0.82, which gives a possible trading interval of +/-$0.0620 (+/-8.22%) up or down from last closing price. If DeFi Technologies Inc. takes out the full calculated possible swing range there will be an estimated 16.44% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.670, some $0.0844 (11.19%) from the current price of $0.754, our system finds the risk reward attractive.
Is DeFi Technologies Inc. stock A Buy?
DeFi Technologies 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for DeFi Technologies Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.725 ( 3.92%) | $0.754 |
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 | 0.84 | 11.98 % | |
| R2 | 0.799 | 5.91 % | ||
| R1 | 0.771 | 2.15 % | ||
| Current price: | 0.754 | |||
| Support | S1 | 0.679 | -10.00 % | |
| S2 | 0.651 | -13.75 % | ||
| S3 | 0.605 | -19.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.754 | |||
| Support | S1 | 0.670 | -11.19% | |
| S2 | 0.662 | -12.22% | ||
| S3 | 0.625 | -17.17% |
FAQ
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