FARMMI INC. - Daily - Technical analysis published on 02/16/2024 (GMT)
- 81
- 0
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Neutral
Technical indicators
72%
11%
17%
My opinion
Bullish above 1.28 USD
My targets
1.51 USD (+8.63%)
1.58 USD (+13.67%)
My analysis
The current short-term bullish acceleration on FARMMI INC. should quickly allow the basic trend to return to bullish. To avoid contradicting the short term, traders may prefer long positions (at the time of purchase) as long as the price remains well above 1.28 USD. Short-term buyers will use the resistance located at 1.51 USD as an objective. A bullish break in this resistance would boost the bullish momentum. The next bullish objective would then be set at 1.58 USD. Crossing this resistance would then open the door for buyers to target 3.19 USD. Caution, if there is a return to under 1.28 USD, it should not be forgotten that the basic trend is not yet clearly defined. Beware of against the trend sellers, many of whom will certainly benefit from this movement.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
3.4
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by nfkhamis. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The FARMMI INC. price is 1.39 USD. The price registered an increase of +2.96% on the session and was traded between 1.27 USD and 1.50 USD over the period. The price is currently at +9.45% from its lowest and -7.33% from its highest.1.27
1.50
1.39
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
A technical analysis in Daily of this FARMMI INC. chart shows a neutral trend. The trend could quickly turn bullish due to the strong bullish signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 13 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S1
R1
R2
R3
Price
| S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|
| ProTrendLines | 1.14 | 1.39 | 1.51 | 3.19 | 3.65 |
| Change (%) | -17.99% | - | +8.63% | +129.50% | +162.59% |
| Change | -0.25 | - | +0.12 | +1.80 | +2.26 |
| Level | Major | - | Intermediate | Intermediate | Minor |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.04 | 1.16 | 1.27 | 1.39 | 1.50 | 1.62 | 1.73 |
| Camarilla | 1.33 | 1.35 | 1.37 | 1.39 | 1.41 | 1.43 | 1.45 |
| Woodie | 1.05 | 1.16 | 1.28 | 1.39 | 1.51 | 1.62 | 1.74 |
| Fibonacci | 1.16 | 1.25 | 1.30 | 1.39 | 1.48 | 1.53 | 1.62 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.96 | 0.99 | 1.07 | 1.10 | 1.18 | 1.21 | 1.29 |
| Camarilla | 1.11 | 1.12 | 1.13 | 1.14 | 1.15 | 1.16 | 1.17 |
| Woodie | 0.98 | 1.00 | 1.09 | 1.11 | 1.20 | 1.22 | 1.31 |
| Fibonacci | 0.99 | 1.04 | 1.06 | 1.10 | 1.15 | 1.17 | 1.21 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.68 | 0.86 | 0.98 | 1.16 | 1.28 | 1.46 | 1.58 |
| Camarilla | 1.02 | 1.05 | 1.07 | 1.10 | 1.13 | 1.16 | 1.18 |
| Woodie | 0.65 | 0.85 | 0.95 | 1.15 | 1.25 | 1.45 | 1.55 |
| Fibonacci | 0.86 | 0.98 | 1.05 | 1.16 | 1.28 | 1.35 | 1.46 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 68.19 | |
| MACD (12,26,9): | 0.0400 | |
| Directional Movement: | 46.52 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 1.22 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.18 | |
| Elder Ray (13): | 0.18 | |
| Super Trend (3,10): | 1.28 | |
| Zig ZAG (10): | 1.39 | |
| VORTEX (21): | 1.0700 | |
| Stochastique (14,3,5): | 27.57 | |
| TEMA (21): | 1.29 | |
| Williams %R (14): | -72.18 | |
| Chande Momentum Oscillator (20): | 0.29 | |
| Repulse (5,40,3): | -15.7500 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 25.60 |
| MA7: | 1.24 | |
| MA20: | 1.14 | |
| MA50: | 1.15 | |
| MA100: | 1.26 | |
| MAexp7: | 1.27 | |
| MAexp20: | 1.18 | |
| MAexp50: | 1.21 | |
| MAexp100: | 1.48 | |
| Price / MA7: | +12.10% | |
| Price / MA20: | +21.93% | |
| Price / MA50: | +20.87% | |
| Price / MA100: | +10.32% | |
| Price / MAexp7: | +9.45% | |
| Price / MAexp20: | +17.80% | |
| Price / MAexp50: | +14.88% | |
| Price / MAexp100: | -6.08% |
Quotes :
-
15 min delayed data
-
NASDAQ Stocks
News
Don't forget to follow the news on FARMMI INC.. At the time of publication of this analysis, the latest news was as follows:
- Aegis Capital Corp. acted as Sole Bookrunner on a $81 Million Underwritten Public Offering of Ordinary Shares and Pre-Funded Warrants to Purchase Ordinary Shares for Farmmi, Inc. (NASDAQ: FAMI)
- Aegis Capital Corp. acted as Sole Bookrunner on a $48.3 Million Upsized Underwritten Public Offering of Ordinary Shares Including Exercise of the Over-Allotment Option for Farmmi, Inc. (NASDAQ:FAMI)
- Aegis Capital Corp. Acted as Sole Bookrunner on a $7.5 Million Follow-On Offering for Farmmi, Inc. (NASDAQ:FAMI)
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis FARMMI INC. - Daily