OSI Systems Stock Forecast
OSI Systems stock price up 0.98% on Thursday
(Updated on Mar 28, 2024)
The OSI Systems stock price gained 0.98% on the last trading day (Thursday, 28th Mar 2024), rising from $141.44 to $142.82. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.17% from a day low at $140.97 to a day high of $144.03. The price has risen in 8 of the last 10 days and is up by 8.87% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 16 thousand more shares were traded than the day before. In total, 91 thousand shares were bought and sold for approximately $13.06 million.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $144.75 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 8.45% during the next 3 months and, with a 90% probability hold a price between $142.09 and $156.98 at the end of this 3-month period.
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OSIS Signals & Forecast
Mostly positive signals in the chart today. The OSI Systems stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $138.79 and $133.92. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 11, 2024, and so far it has risen 10.41%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for OSI Systems stock
On the downside, the stock finds support just below today's level from accumulated volume at $134.39 and $132.59. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, OSI Systems finds support just below today's level at $134.39. If this is broken, then the next support from accumulated volume will be at $132.59 and $128.03.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $3.06 (2.17%) between high and low. For the last week, the stock has had daily average volatility of 1.77%.
Our recommended stop-loss: $136.96 (-4.10%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (OSIS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect OSI Systems to open at $142.61, and during the day (based on 14 day Average True Range), to move between $140.04 and $145.60, which gives a possible trading interval of +/-$2.78 (+/-1.95%) up or down from last closing price. If OSI Systems takes out the full calculated possible swing range there will be an estimated 3.89% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $134.39, some $8.43 (5.90%) from the current price of $142.82, our system finds the risk reward attractive.
Is OSI Systems stock A Buy?
OSI Systems holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 8.211 Strong Buy Candidate Unchanged
Predicted Opening Price for OSI Systems of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$142.61 ( 0.149%) | $142.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OSIS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 145.67 | 1.99 % | |
R2 | 144.50 | 1.17 % | ||
R1 | 143.78 | 0.669 % | ||
Current price: | 142.82 | |||
Support | S1 | 141.44 | -0.97 % | |
S2 | 140.72 | -1.47 % | ||
S3 | 139.55 | -2.29 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 142.82 | |||
Support | S1 | 134.39 | -5.90% | |
S2 | 132.59 | -7.16% | ||
S3 | 128.03 | -10.36% |
FAQ
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