Bitfarms Ltd (BITF) Stock: What Does the Chart Say Monday?

Bitfarms Ltd (BITF) stock has fallen 4.24% over the past week and gets a Bearish rating from InvestorsObserver Sentiment Indicator.

Bitfarms Ltd has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on BITF!

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What is Stock Sentiment?

Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends. Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down. InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend. Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.

What's Happening With BITF Stock Today?

Bitfarms Ltd (BITF) stock is trading at $1.13 as of 12:55 PM on Monday, Jan 30, a rise of $0.02, or 2.27% from the previous closing price of $1.10. The stock has traded between $1.08 and $1.20 so far today. Volume today is 3,354,815 compared to average volume of 4,299,443. To screen for more stocks like Bitfarms Ltd click here.

More About Bitfarms Ltd

Founded in 2017, Bitfarms is a global, publicly traded (NASDAQ/TSX: BITF) Bitcoin self-mining company. Bitfarms runs vertically integrated mining operations with in-house management and company-owned electrical engineering, installation service, and onsite technical repair. The company's proprietary data analytics system delivers best-in-class operational performance and accelerated uptime. Bitfarms has 10 mining facilities in production around the world, which are housed in four countries: Canada, the United States, Paraguay, and Argentina. Powered by predominantly environmentally friendly hydro-electric and long-term power contracts, Bitfarms is committed to using renewable, locally based, and often underutilized energy infrastructure. Click Here to get the full Stock Report for Bitfarms Ltd stock.