High volatility in Oncology Pharma Inc. stock price on Friday which ended trading at $13.95StockInvest.us, 1 month ago
The Oncology Pharma Inc. stock price gained 16.25% on the last trading day (Friday, 15th Oct 2021), rising from $12.00 to $13.95. , and has now gained 5 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 46.04% from a day low at $12.12 to a day high of $17.70. The price has risen in 6 of the last 10 days and is up by 49.2% 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, 514 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $17.69 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $10.91, a level that may pose a second chance to hit a runner. According to fan-theory $17.41 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Mostly positive signals in the chart today. The Oncology Pharma Inc. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $9.41 and $12.71. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, October 11, 2021, and so far it has risen 92.68%. 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.
On the downside, the stock finds support just below today's level from accumulated volume at $12.26 and $12.00.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 $12.26. If this is broken, then the next support from accumulated volume will be at $12.00 and $11.35.
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 $5.58 between high and low, or 46.04%. For the last week, the stock has had a daily average volatility of 21.91%.
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.Check full Oncology Pharma Inc. forecast and analysis here.