Omega Flex Stock Forecast
Red day on Friday for Omega Flex
(Updated on May 17, 2024)
The Omega Flex stock price fell by -1.56% on the last day (Friday, 17th May 2024) from $67.14 to $66.09. During the last trading day the stock fluctuated 2.17% from a day low at $65.98 to a day high of $67.42. The price has fallen in 5 of the last 10 days and is down by -1.34% for this period. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 9 thousand shares were bought and sold for approximately $616.62 thousand.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.68% during the next 3 months and, with a 90% probability hold a price between $58.38 and $63.96 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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OFLX Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Omega Flex 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 $66.78 and $67.95. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -10.14%. Further fall is indicated until a new bottom pivot has been found. Omega Flex gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Omega Flex stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.44 between high and low, or 2.17%. For the last week the stock has had daily average volatility of 1.29%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OFLX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Omega Flex to open at $66.50, and during the day (based on 14 day Average True Range), to move between $64.83 and $67.35, which gives a possible trading interval of +/-$1.26 (+/-1.90%) up or down from last closing price. If Omega Flex takes out the full calculated possible swing range there will be an estimated 3.80% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $66.85, some $0.760 (1.15%) from the current price of $66.09, our system finds the risk reward not very attractive.
Is Omega Flex stock A Buy?
Omega Flex holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.940 Sell Candidate Unchanged
Predicted Opening Price for Omega Flex of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
$66.50 ( 0.613%) | $66.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OFLX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 67.93 | 2.78 % | |
R2 | 67.38 | 1.95 % | ||
R1 | 67.04 | 1.44 % | ||
Current price: | 66.09 | |||
Support | S1 | 65.95 | -0.217 % | |
S2 | 65.61 | -0.729 % | ||
S3 | 65.06 | -1.56 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 72.76 | 10.09 % | |
R2 | 67.00 | 1.38 % | ||
R1 | 66.85 | 1.15 % | ||
Current price | 66.09 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
OFLX Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 09, 2024 | Apr 09, 2024 | Apr 24, 2024 | $0.330 | 0.489% |
2 | Dec 06, 2023 | Dec 18, 2023 | Jan 04, 2024 | $0.330 | 0.469% |
3 | Sep 11, 2023 | Sep 22, 2023 | Oct 06, 2023 | $0.330 | 0.420% |
4 | Jun 12, 2023 | Jun 23, 2023 | Jul 07, 2023 | $0.330 | 0.343% |
5 | Mar 28, 2023 | Apr 06, 2023 | Apr 24, 2023 | $0.320 | 0.287% |
FAQ
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