Oceaneering International Inc Stock Forecast
Stronger technical forecast for Oceaneering International Inc stock price after Friday trading.
(Updated on Apr 19, 2024)
The Oceaneering International Inc stock price gained 1.44% on the last trading day (Friday, 19th Apr 2024), rising from $22.28 to $22.60. During the last trading day the stock fluctuated 3.67% from a day low at $21.93 to a day high of $22.74. The price has fallen in 8 of the last 10 days and is down by -10.32% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 81 thousand more shares were traded than the day before. In total, 740 thousand shares were bought and sold for approximately $16.73 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $21.86 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 16.50% during the next 3 months and, with a 90% probability hold a price between $25.46 and $30.56 at the end of this 3-month period.
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OII Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Oceaneering International Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $23.19 and $22.62. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -11.41%. 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).
Support, Risk & Stop-loss for Oceaneering International Inc stock
Oceaneering International Inc finds support from accumulated volume at $21.97 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 $0.81 between high and low, or 3.67%. For the last week, the stock has had daily average volatility of 3.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OII) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Oceaneering International Inc to open at $22.42, and during the day (based on 14 day Average True Range), to move between $21.86 and $23.34, which gives a possible trading interval of +/-$0.744 (+/-3.29%) up or down from last closing price. If Oceaneering International Inc takes out the full calculated possible swing range there will be an estimated 6.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.97 (2.79%) than the resistance at $24.42 (8.05%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Oceaneering International Inc will release earnings AMC on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.300. We will update the financials statements for Oceaneering International Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.32% in the first trading day after earnings release.
Is Oceaneering International Inc stock A Buy?
The Oceaneering International Inc stock holds several negative signals and despite the positive trend, we believe Oceaneering International Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.233 Sell Candidate Upgraded
Predicted Opening Price for Oceaneering International Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $22.42 ( 0.789%) | $22.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OII
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.23 | 2.77 % | |
| R2 | 22.92 | 1.41 % | ||
| R1 | 22.73 | 0.572 % | ||
| Current price: | 22.60 | |||
| Support | S1 | 22.11 | -2.15 % | |
| S2 | 21.92 | -2.99 % | ||
| S3 | 21.62 | -4.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.51 | 12.88 % | |
| R2 | 24.79 | 9.69 % | ||
| R1 | 24.42 | 8.05 % | ||
| Current price | 22.60 | |||
| Support | S1 | 21.97 | -2.79% | |
| S2 | 21.79 | -3.58% | ||
| S3 | 19.76 | -12.57% |
OII Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 26, 2017 | Aug 23, 2017 | Sep 15, 2017 | $0.150 | 0.581% |
| 2 | Apr 26, 2017 | May 24, 2017 | Jun 16, 2017 | $0.150 | 0.601% |
| 3 | Feb 08, 2017 | Feb 22, 2017 | Mar 17, 2017 | $0.150 | 0.578% |
| 4 | Oct 28, 2016 | Nov 22, 2016 | Dec 16, 2016 | $0.150 | 0.481% |
| 5 | Jul 21, 2016 | Aug 24, 2016 | Sep 16, 2016 | $0.270 | 1.07% |
FAQ
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