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High volatility in Oncology Pharma Inc. stock price on Monday which ended trading at $19.71

StockInvest.us, 2 months ago


The Oncology Pharma Inc. stock price fell by -11.10% on the last day (Monday, 2nd Aug 2021) from $22.17 to $19.71. During the day the stock fluctuated 17.24% from a day low at $19.60 to a day high of $22.98. The price has risen in 5 of the last 10 days, but is still down by -21.16% for this period. Volume has increased on the last day by 166 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, 540 thousand shares were bought and sold for approximately $10.64 million.

The stock has broken the very wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $19.80. A reaction back to this level may hold a second chance to get out before further falls.

Oncology Pharma Inc.

Furthermore, there is a buy signal from the 3 months 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 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 $22.94 and $28.01. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, July 21, 2021, and so far it has fallen -28.82%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Oncology Pharma Inc. finds support from accumulated volume at $18.86 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $3.38 between high and low, or 17.24%. For the last week, the stock has had a daily average volatility of 12.65%.

The Oncology Pharma Inc. stock holds several negative signals and despite the positive trend, we believe Oncology Pharma Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Check full Oncology Pharma Inc. forecast and analysis here.