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A very strong day for Oncology Pharma Inc. stock price on Monday

StockInvest.us, 3 months ago


The Oncology Pharma Inc. stock price gained 6.84% on the last trading day (Monday, 19th Jul 2021), rising from $23.40 to $25.00. , and 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 day the stock fluctuated 6.63% from a day low at $23.45 to a day high of $25.00. The price has been going up and down for this period, and there has been a -19.56% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 32 thousand more shares were traded than the day before. In total, 225 thousand shares were bought and sold for approximately $5.62 million.

The stock lies in the middle of a very wide and 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 -11.40% during the next 3 months and, with a 90% probability hold a price between $14.16 and $30.78 at the end of this 3-month period.

Oncology Pharma Inc.

A buy signal was issued from a pivot bottom point on Thursday, July 15, 2021, and so far it has risen 19.33%. Further rise is indicated until a new top pivot has been found. 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 Oncology Pharma Inc. 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 $25.14 and $28.13. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $21.80 and $20.95.There is 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, Oncology Pharma Inc. finds support just below today's level at $21.80. If this is broken, then the next support from accumulated volume will be at $20.95 and $20.00.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.56 between high and low, or 6.63%. For the last week, the stock has had a daily average volatility of 12.61%.

Oncology Pharma Inc. holds several negative signals and is within a very wide and 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.

Check full Oncology Pharma Inc. forecast and analysis here.