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Bitdeer Technologies Group functions in blockchain and computing technologies. Bitdeer Technologies offers hash rate sharing solutions, including Cloud hash rate and Hash rate marketplace, and management services for efficient cryptocurrency mining. The company also processes mining data centers to generate hash rates. The company is headquartered in Singapore.
On Monday, 29th Apr 2024, the Bitdeer Technologies Group's stock price fell by -5.04%, a massive downfall from $6.35 to $6.03. This stock has fallen consecutively for four days. However, during the last trading day, the stock fluctuated 6.79% from a day low at $5.89 to a day high of $6.29.
Over the past four days, the stock price was observed to fluctuate up and down. However, there has been a 6.73% gain in the last couple of weeks. The Volume increased on the last day by 179 thousand shares, but on falling prices. 700 thousand shares were purchased and sold for $4.22 million. This fluctuation in the price indicates the risk for the present day. For the next three months, the stock is expected to fall at -17.88%. The probability of the price holding is between $4.25 and $6.34 at the end of the upcoming three months. To predict Bitdeer stock to buy or sell let us check out today's stock insights:
The current share price of Bitdeer is seen at US$ 6.03 , with US$ – 0.32 or 5.04% downfall compared to the previous day. On 29 April 2024, it was expected to open at $6.07, and during the day based on the stats of the average 14 days. This predicted the move between $5.46 and $6.60, which gives a possible trading interval of +/-$0.566 (+/-9.39%) up or down from the last closing price. However, this is not the conclusion on Bitdeer stock to buy or sell. Consensus insights matter too.
A buy signal was indicated and issued from a pivot point, as far as it is figured, with a rise of 11.25% on Tuesday, April 16, 2024. The Bitdeer Technologies Group stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Moving Average Convergence Divergence (MACD) is hinting for a buy signal. Unlikely, the volume seems to fluctuate. Hence the signals do not completely indicate as complete YES.
The stock has support levels at $5.69 and $5.65, which means those prices have observed a lot of trading activities in the past. If the stock's price drops, these levels might prevent it from falling further.
When a stock tests a support level, there's a risk it might fall further. In this case, if the stock's price falls below $5.69, the next support levels are $5.65 and $5.42.
This stock price can go up and down quickly, so it's considered high risk. Over the last week, its average daily movement has been around 6.54%.
In simple terms, it's a risky stock that moves a lot. It is at a point where it might either balance or drop further, depending on whether it sticks to its support levels.
According to BTDR, the latest analysis and reports suggest 'Buy.' Consensus shows the following list of ratings for today, 30 April 2024, recommending:
Strong Buy:'0′, Buy:'7′, Hold:'0′, Sell:'0′, 126.25% predicted upside.
Let us take a look at how to buy Bitdeer stock, and how to sell Bitdeer stock.
Open A Brokerage Account, you need to create a brokerage account. A brokerage account is an investment account that permits you to buy and sell a variety of investments, such as stocks, mutual funds, and ETFs. There are a lot of brokerage companies in the market. However, they are different in the broker's commission.
In conclusion, Bitdeer Technologies Group functions in the blockchain and computing technologies sector, providing hash rate sharing solutions and management services for cryptocurrency mining. Despite experiencing consecutive downfalls in its stock price over four days, with a drastic fall of -5.04% on April 29, 2024, the company has shown some unpredictability in its stock movement.
Bitdeer stock Analysis suggests potential support levels at $5.69 and $5.65, indicating previous trading activities at these prices. However, there are risks associated with further declines if the stock falls below these support levels. The stock is considered high risk due to its volatility, with an average daily movement of 6.54% over the last week. While recent reports suggest a 'Buy' rating for Bitdeer Technologies Group stock, investors should carefully consider their options and assess the risk before making investment decisions.
Should I buy or sell Bitdeer Technologies Group stock right now?
The 7 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Bitdeer Technologies Group in the last year.
Consensus' today as of 30 April 2024 is as follows:
Strong Buy:'0′, Buy:'7′, Hold:'0′, Sell:'0′, 126.25% predicted upside.
What is Bitdeer Technologies Group's stock price target for 2024?
BTDR share price targets range from $9.00 to $20.00. On average, they are expecting the company's stock price to reach $13.64 in the next 12 months.
What ETFs hold Bitdeer Technologies Group's stock?
ETFs with the largest weight of Bitdeer Technologies Group (NASDAQ: BTDR) stock in their portfolio include Valkyrie Bitcoin Miners ETF (WGMI), VanEck Digital Transformation ETF (DAPP), Invesco Alerian Galaxy Crypto Economy ETF (SATO), Grayscale Future of Finance ETF (GFOF), Bitwise Crypto Industry Innovators ETF (BITQ).
Who are Bitdeer Technologies Group's major shareholders?
Bitdeer Technologies Group's stock is owned by top institutional shareholders including EDBI Pte Ltd (0.09%). However, BTDR is owned by many other institutes as well.
How do I buy shares of Bitdeer Technologies Group?
Shares of BTDR stock can be purchased through any online brokerage account like Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
