Fiverr International Ltd. stock price slipped 5.96% lower on Friday and resumed the downfall. The stock price is down 9.33% a week and over 36.9% in the past six months. The recent breakdown has crushed the hopes of buyers in the short term. The bears are in complete dominance in the short term as well as in the long term.
Fiverr Stock Short-Term Price Analysis
Fiverr stock price trend analysis over the daily charts showcases a bearish outlook in the long term. The stock price has been continuously losing for several quarters. The stock price has a major dynamic resistance of $200. The FVRR stock price is declining steadily below the 200-day EMA.
Moreover, the recent breakdown has shifted the short-term outlook from neutral to bearish. The Fiverr stock price may decline more in the upcoming sessions. The short-term trend has aligned with the long-term declining trend. The stock price has a major support near the round level of $20 up to which the price may decline.
Fiverr Stock Price Analysis Over Weekly Timeframe
The weekly FVRR price chart elaborates on the continuation of the downtrend after a consolidation of over three weeks. The stock price trades below the 50-day EMA and 200-day EMA over the weekly chart.
Technical Indicators Show Bearish Trend Continuation
The daily FVRR stock price chart shows that the price fell below the 50-day and 200-day EMA indicating a bearish dominance in the short term as well as long term. At press time, the RSI line has also made a negative cross of the SMA indicating the continuation of the downtrend.
The overall technical opinion rating including RSI and MACD signals a 90% “sell” with a strong short-term outlook on maintaining the current direction.
The analysts offering a 1-year price forecast for the Fiverr stock have a maximum potential of 121.73% on the upside which could lead the price to a high of $50. The minimum estimate of the analysts expects a surge of 46.34% from the current price of $33.00.
Conclusion
The Fiverr stock price has been falling for several quarters and is below the 200-day EMA. The price has a major resistance at $200 and a major support at $20. The price has broken down from a consolidation and resumed the bearish trend.
The price is down 5.96% on Friday, 9.33% a week, and 36.9% in six months. The bears are dominating the short-term and the long-term. The price may decline further to reach the $20 level. Fiverr International Ltd. is an online marketplace for freelancing services.
Technical Levels
- Support levels: $22.02 and $20.36
- Resistance levels: $26.16 and $29.81
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/10/21/fiverr-stock-nyse-fvrr-resumes-downfall-loses-5-96-on-friday/