FOXO stock price has been struggling to break above the key resistance levels. Currently, FOXO stock needs more buyers to support an upward movement toward recovery. However, the trading volume is low, which indicates a lack of interest and momentum. At the same time, FOXO shares have broken below the 20, 50, 100, and 200-day daily moving averages, which are bearish signals.
FOXO stock price gained 9.16% last week; it fell by 5.86% in the month. Moreover, FOXO Technologies shares witnessed a decline of about 84.95% in the past six months and a plunge of 89.62% over the past year.
Also, the FOXO Technologies share price has dropped by around 67.25% year to date. These trends collectively show the challenges faced by FOXO stock in their recovery efforts throughout the year.
Technical indicators highlight the downtrend in FOXO stock price. Relative strength index (RSI) and the moving average convergence divergence (MACD) both indicate the slippage of FOXO stock price.
The price at present requires substantial support from the buyers in order to make a recovery as it is facing major resistance from the previous resistance points and multiple moving average levels.
The price may soon attempt to make a bullish recovery. However, as it is trading below the key EMA levels, the buyers will have to face multiple resistance levels in order to attain the target. Buyers are presently making efforts to retake charge of the trend.
On the daily charts, FOXO stock shows sellers’ dominance and slipped below neutrality, showing a negative outlook on the charts. Moreover, the price dropped below the lower Bollinger band.
Overall, the technical indicators and price action suggest that FOXO stock is bearish and that the downtrend may continue.
Technical Evaluation of FOXO Stock
At the time of publishing, FOXO stock is trading below the 50 and 200-day EMAs (Exponential moving averages), which do not support the price trend.
The current value of RSI is 50.36 points. The 14 SMA is below the median line at 43.14 points which indicates that the FOXO stock is bearish.
The MACD line at 7.97 and the signal line at 9.35 are above the zero line. A bearish crossover is observed in the MACD indicator which signals more bearishness for the FOXO Technologies stock price.
Summary
FOXO stock technical oscillators also support the bearish trend. The MACD, RSI, and EMAs are emphasizing negative signs and imply that the downtrend may continue in the FOXO Technologies stock price. FOXO price action suggests that the investors and traders are bearish on the 1-day time frame. The price action reflects a bearish perspective at the moment.
Technical Levels
Support Levels: $0.0923 and $0.0757
Resistance Levels: $0.1396 and $0.1500
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.
Source: https://www.thecoinrepublic.com/2023/10/14/foxo-stock-what-to-expect-with-foxo-technologies-stock-in-2023/