Infobird Co., Ltd Stock Forecast
Volatile ride for Infobird Co., Ltd stock price on Thursday moving between $3.64 and $4.33
(Updated on May 30, 2024)
The Infobird Co., Ltd stock price fell by -11.24% on the last day (Thursday, 30th May 2024) from $4.18 to $3.71. During the last trading day the stock fluctuated 18.82% from a day low at $3.64 to a day high of $4.33. The price has risen in 6 of the last 10 days but is still down by -5.36% for this period. 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 -35 thousand shares and in total, 195 thousand shares were bought and sold for approximately $722.16 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 -25.46% during the next 3 months and, with a 90% probability hold a price between $1.89 and $4.28 at the end of this 3-month period.
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IFBD Signals & Forecast
There are few to no technical positive signals at the moment. The Infobird Co., Ltd 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 $3.98 and $4.09. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 06, 2024, and so far it has fallen -51.38%. 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 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 Infobird Co., Ltd stock
Infobird Co., Ltd finds support from accumulated volume at $3.69 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.685 between high and low, or 18.82%. For the last week the stock has had daily average volatility of 11.84%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IFBD) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect Infobird Co., Ltd to open at $3.89, and during the day (based on 14 day Average True Range), to move between $3.26 and $4.16, which gives a possible trading interval of +/-$0.447 (+/-12.05%) up or down from last closing price. If Infobird Co., Ltd takes out the full calculated possible swing range there will be an estimated 24.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.69 (0.54%) than the resistance at $4.13 (11.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Infobird Co., Ltd stock A Buy?
Infobird Co., Ltd 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.030 Strong Sell Candidate Downgraded
Predicted Opening Price for Infobird Co., Ltd of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| $3.89 ( 4.90%) | $3.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IFBD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.58 | 23.36 % | |
| R2 | 4.31 | 16.31 % | ||
| R1 | 4.15 | 11.95 % | ||
| Current price: | 3.71 | |||
| Support | S1 | 3.63 | -2.16 % | |
| S2 | 3.47 | -6.51 % | ||
| S3 | 3.21 | -13.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.31 | 16.17 % | |
| R2 | 4.18 | 12.67 % | ||
| R1 | 4.13 | 11.32 % | ||
| Current price | 3.71 | |||
| Support | S1 | 3.69 | -0.539% | |
| S2 | 3.66 | -1.35% | ||
| S3 | 0 | . |
FAQ
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