Olin Corporation Stock Forecast
Red day on Thursday for Olin Corporation stock after losing 0.0188%
(Updated on Apr 18, 2024)
The Olin Corporation stock price fell by -0.0188% on the last day (Thursday, 18th Apr 2024) from $53.18 to $53.17. It has now fallen 7 days in a row. During the last trading day the stock fluctuated 2.31% from a day low at $52.67 to a day high of $53.89. The price has fallen in 9 of the last 10 days and is down by -9.62% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -22 thousand shares and in total, 665 thousand shares were bought and sold for approximately $35.34 million.
Given the current short-term trend, the stock is expected to rise 12.48% during the next 3 months and, with a 90% probability hold a price between $59.80 and $68.71 at the end of this 3-month period.
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OLN Signals & Forecast
There are few to no technical positive signals at the moment. The Olin Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $54.41 and $56.70. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -10.89%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Olin Corporation stock
Olin Corporation finds support from accumulated volume at $51.75 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.22 between high and low, or 2.31%. For the last week, the stock has had daily average volatility of 2.55%.
Olin Corporation is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $49.87 (-6.21%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 16 which reduces the risk some. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (OLN) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Olin Corporation to open at $53.24, and during the day (based on 14 day Average True Range), to move between $51.85 and $54.49, which gives a possible trading interval of +/-$1.32 (+/-2.47%) up or down from last closing price. If Olin Corporation takes out the full calculated possible swing range there will be an estimated 4.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $53.48 (0.58%) than the support at $51.75 (2.67%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Olin Corporation will release earnings AMC on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.380. We will update the financials statements for Olin Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.84% in the first trading day after earnings release.
Is Olin Corporation stock A Buy?
Olin Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.216 Hold/Accumulate Unchanged
Predicted Opening Price for Olin Corporation of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $53.24 ( 0.135%) | $53.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OLN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 54.46 | 2.42 % | |
| R2 | 53.99 | 1.55 % | ||
| R1 | 53.71 | 1.01 % | ||
| Current price: | 53.17 | |||
| Support | S1 | 52.78 | -0.738 % | |
| S2 | 52.49 | -1.28 % | ||
| S3 | 52.03 | -2.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 57.15 | 7.49 % | |
| R2 | 55.15 | 3.72 % | ||
| R1 | 53.48 | 0.583 % | ||
| Current price | 53.17 | |||
| Support | S1 | 51.75 | -2.67% | |
| S2 | 51.68 | -2.80% | ||
| S3 | 51.35 | -3.42% |
OLN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 06, 2024 | Mar 15, 2024 | $0.200 | 0.343% |
| 2 | Oct 26, 2023 | Nov 08, 2023 | Dec 08, 2023 | $0.200 | 0.400% |
| 3 | Jul 27, 2023 | Aug 09, 2023 | Sep 08, 2023 | $0.200 | 0.397% |
| 4 | Apr 27, 2023 | May 10, 2023 | Sep 08, 2023 | $0.200 | 0.397% |
| 5 | Feb 22, 2023 | Mar 03, 2023 | Jun 09, 2023 | $0.200 | 0.388% |
FAQ
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