BitFuFu Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Big movements in BitFuFu Inc. stock price on Thursday moving 15.98% between high and low
(Updated on May 16, 2024)
The BitFuFu Inc. stock price gained 0.580% on the last trading day (Thursday, 16th May 2024), rising from $3.45 to $3.47. During the last trading day the stock fluctuated 15.98% from a day low at $3.19 to a day high of $3.70. The price has risen in 5 of the last 10 days and is up by 20.91% over the past 2 weeks. Volume fell on the last day by -36 thousand shares and in total, 162 thousand shares were bought and sold for approximately $563.52 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 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 -36.59% during the next 3 months and, with a 90% probability hold a price between $0.156 and $5.32 at the end of this 3-month period.
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FUFU Signals & Forecast
The BitFuFu 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 $3.10 and $3.37. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -73.57%. Further fall is indicated until a new bottom pivot has been found. 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 BitFuFu Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.09 and $2.87. 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, BitFuFu Inc. finds support just below today's level at $3.09. If this is broken, then the next support from accumulated volume will be at $2.87 and $2.74.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.510 between high and low, or 15.98%. For the last week the stock has had daily average volatility of 14.15%.
Our recommended stop-loss: $3.29 (-5.30%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 52 days ago.)
Trading Expectations (FUFU) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect BitFuFu Inc. to open at $3.45, and during the day (based on 14 day Average True Range), to move between $2.94 and $4.00, which gives a possible trading interval of +/-$0.527 (+/-15.18%) up or down from last closing price. If BitFuFu Inc. takes out the full calculated possible swing range there will be an estimated 30.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.09 (10.95%) than the resistance at $3.99 (14.99%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BitFuFu Inc. stock A Buy?
BitFuFu 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.
Current score: 0.349 Hold/Accumulate Unchanged
Predicted Opening Price for BitFuFu Inc. of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $3.45 ( 0.479%) | $3.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FUFU
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.96 | 14.22 % | |
| R2 | 3.77 | 8.60 % | ||
| R1 | 3.65 | 5.13 % | ||
| Current price: | 3.47 | |||
| Support | S1 | 3.26 | -6.09 % | |
| S2 | 3.14 | -9.56 % | ||
| S3 | 2.94 | -15.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.29 | 23.63 % | |
| R2 | 4.08 | 17.58 % | ||
| R1 | 3.99 | 14.99 % | ||
| Current price | 3.47 | |||
| Support | S1 | 3.09 | -10.95% | |
| S2 | 2.87 | -17.29% | ||
| S3 | 2.74 | -21.04% |
FAQ
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