A Reversal for Farmmi, Inc. (FAMI) Is Not Near. The Formed Multiple Bottom
The stock of Farmmi, Inc. (FAMI) shows a multiple bottoms pattern with $1.05 target or 7.00 % below today’s $1.13 share price. The 6 months chart pattern indicates high risk for the $14.53 million company. It was reported on Dec, 4 by Finviz.com. If the $1.05 price target is reached, the company will be worth $1.02M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.
The stock decreased 3.00% or $0.035 during the last trading session, reaching $1.13. About 904 shares tr ...