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High volatility in Oncology Pharma Inc. stock price on Monday which ended trading at $16.00

StockInvest.us, 9 months ago


The Oncology Pharma Inc. stock price gained 14.70% on the last trading day (Monday, 18th Oct 2021), rising from $13.95 to $16.00. , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the day the stock fluctuated 16.19% from a day low at $14.76 to a day high of $17.15. The price has risen in 7 of the last 10 days and is up by 105.92% over the past 2 weeks. Volume fell on the last day by -503 thousand shares and in total, 765 thousand shares were bought and sold for approximately $12.24 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

Given the current short-term trend, the stock is expected to fall -51.15% during the next 3 months and, with a 90% probability hold a price between $2.90 and $7.82 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.

Oncology Pharma

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 $10.50 and $12.65. 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 120.99%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Oncology Pharma Inc. finds support from accumulated volume at $15.42 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $2.39 between high and low, or 16.19%. For the last week, the stock has had a daily average volatility of 24.51%.

Since the Oncology Pharma Inc. has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Oncology Pharma Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Check full Oncology Pharma forecast and analysis here.