Farmmi Stock Forecast
Farmmi stock price ended at $0.83 on Thursday, after losing 0.89%.
(Updated on Mar 28, 2024)
The Farmmi stock price fell by -0.89% on the last day (Thursday, 28th Mar 2024) from $0.84 to $0.83. During the last trading day the stock fluctuated 6.25% from a day low at $0.83 to a day high of $0.88. The price has fallen in 6 of the last 10 days and is down by -7.48% for this period. Volume has increased on the last day by 13 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 46 thousand shares were bought and sold for approximately $38.06 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.792 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -21.19% during the next 3 months and, with a 90% probability hold a price between $0.624 and $0.98 at the end of this 3-month period.
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FAMI Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 3.42%. 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. The Farmmi 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 $0.86 and $1.04. A break-up above any of these levels will issue buy signals. Farmmi 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Farmmi stock
Farmmi finds support from accumulated volume at $0.80 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0519 between high and low, or 6.25%. For the last week, the stock has had daily average volatility of 9.99%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FAMI) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Farmmi Inc. to open at $0.85, and during the day (based on 14 day Average True Range), to move between $0.751 and $0.91, which gives a possible trading interval of +/-$0.0800 (+/-9.64%) up or down from last closing price. If Farmmi Inc. takes out the full calculated possible swing range there will be an estimated 19.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.80 (3.31%) than the resistance at $0.86 (3.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Farmmi Inc. stock A Buy?
Farmmi 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: -2.619 Sell Candidate Unchanged
Predicted Opening Price for Farmmi Inc. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$0.85 ( 2.04%) | $0.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FAMI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.90 | 8.29 % | |
R2 | 0.88 | 5.90 % | ||
R1 | 0.87 | 4.43 % | ||
Current price: | 0.83 | |||
Support | S1 | 0.83 | -0.344 % | |
S2 | 0.82 | -1.82 % | ||
S3 | 0.796 | -4.20 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.99 | 19.28 % | |
R2 | 0.88 | 6.14 % | ||
R1 | 0.86 | 3.51 % | ||
Current price | 0.83 | |||
Support | S1 | 0.80 | -3.31% | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
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