FARMMI INC. - Weekly - Technical analysis published on 03/02/2024 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
39%
33%
28%
My opinion
Bearish under 1.48 USD
My targets
0.91 USD (-16.24%)
0.76 USD (-30.55%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on FARMMI INC. as long as the price remains well below 1.48 USD. The sellers' bearish objective is set at 0.91 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 0.76 USD. In case of crossing, the next objective would be the support located at 0.60 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
5.9
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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 1.09 USD. The price is up +0.93% over 5 days and has been traded over the last 5 days between 1.06 USD and 1.18 USD. This implies that the 5 day price is +2.83% from its lowest point and -7.35% from its highest point.1.06
1.18
1.09
A study of price movements over other periods shows the following variations:
Near a new LOW record (5 years)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
The Central Volumes scanner detects abnormal volumes on the asset:
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of this Weekly chart of FARMMI INC. indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
R1
R2
R3
Price
| Price | R1 | R2 | R3 | |
|---|---|---|---|---|
| ProTrendLines | 1.09 | 3.19 | 115.83 | 214.00 |
| Change (%) | - | +192.66% | +10,526.61% | +19,533.03% |
| Change | - | +2.10 | +114.74 | +212.91 |
| Level | - | Intermediate | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.96 | 1.01 | 1.05 | 1.10 | 1.14 | 1.19 | 1.23 |
| Camarilla | 1.07 | 1.07 | 1.08 | 1.09 | 1.10 | 1.11 | 1.12 |
| Woodie | 0.96 | 1.01 | 1.05 | 1.10 | 1.14 | 1.19 | 1.23 |
| Fibonacci | 1.01 | 1.04 | 1.07 | 1.10 | 1.13 | 1.16 | 1.19 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.76 | 0.91 | 1.00 | 1.15 | 1.24 | 1.39 | 1.48 |
| Camarilla | 1.01 | 1.04 | 1.06 | 1.08 | 1.10 | 1.12 | 1.15 |
| Woodie | 0.72 | 0.90 | 0.96 | 1.14 | 1.20 | 1.38 | 1.44 |
| Fibonacci | 0.91 | 1.01 | 1.06 | 1.15 | 1.25 | 1.30 | 1.39 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -0.73 | 0.15 | 0.60 | 1.48 | 1.93 | 2.81 | 3.26 |
| Camarilla | 0.69 | 0.82 | 0.94 | 1.06 | 1.18 | 1.30 | 1.43 |
| Woodie | -0.94 | 0.04 | 0.40 | 1.37 | 1.73 | 2.70 | 3.06 |
| Fibonacci | 0.15 | 0.66 | 0.97 | 1.48 | 1.99 | 2.30 | 2.81 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 35.24 | |
| MACD (12,26,9): | -0.4000 | |
| Directional Movement: | 16.74 | |
| AROON (14): | 14.28 | |
| DEMA (21): | 0.79 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.06 | |
| Elder Ray (13): | -0.10 | |
| Super Trend (3,10): | 1.76 | |
| Zig ZAG (10): | 1.10 | |
| VORTEX (21): | 0.9200 | |
| Stochastique (14,3,5): | 9.27 | |
| TEMA (21): | 1.07 | |
| Williams %R (14): | -94.74 | |
| Chande Momentum Oscillator (20): | -0.05 | |
| Repulse (5,40,3): | -37.4200 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -3.2500 | |
| Courbe Coppock: | 23.17 |
| MA7: | 1.09 | |
| MA20: | 1.15 | |
| MA50: | 1.15 | |
| MA100: | 1.22 | |
| MAexp7: | 1.13 | |
| MAexp20: | 1.38 | |
| MAexp50: | 3.72 | |
| MAexp100: | 19.48 | |
| Price / MA7: | -0% | |
| Price / MA20: | -5.22% | |
| Price / MA50: | -5.22% | |
| Price / MA100: | -10.66% | |
| Price / MAexp7: | -3.54% | |
| Price / MAexp20: | -21.01% | |
| Price / MAexp50: | -70.70% | |
| Price / MAexp100: | -94.40% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
The last news published on FARMMI INC. at the time of the generation of this analysis 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.
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