BitFuFu Inc. Stock Forecast

Volatile ride for BitFuFu Inc. stock price on Wednesday moving between $2.73 and $3.18
(Updated on May 01, 2024)

FUFU Signals & Forecast

There are few to no technical positive signals at the moment. The BitFuFu Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $2.93 and $3.96. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -78.67%. 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). BitFuFu Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for BitFuFu Inc. stock

BitFuFu Inc. finds support from accumulated volume at $2.74 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 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 $0.450 between high and low, or 16.48%. For the last week, the stock has had daily average volatility of 15.69%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (FUFU) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect BitFuFu Inc. to open at $2.90, and during the day (based on 14 day Average True Range), to move between $2.11 and $3.49, which gives a possible trading interval of +/-$0.688 (+/-24.56%) up or down from last closing price. If BitFuFu Inc. takes out the full calculated possible swing range there will be an estimated 49.12% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $2.82 (0.71%) than the support at $2.74 (2.14%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is BitFuFu Inc. stock A Buy?

BitFuFu Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -4.795 Sell Candidate Unchanged

Predicted Opening Price for BitFuFu Inc. of Thursday, May 2, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.