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High volatility in Oncology Pharma Inc. stock price on Tuesday which ended trading at $34.57

StockInvest.us, 5 months ago

StockInvest.us

The Oncology Pharma Inc. stock price fell by -3.14% on the last day (Tuesday, 22nd Jun 2021) from $35.69 to $34.57. During the day the stock fluctuated 13.53% from a day low at $33.26 to a day high of $37.76. The price has risen in 6 of the last 10 days and is up by 41.16% over the past 2 weeks. Volume has increased on the last day by 111 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, 343 thousand shares were bought and sold for approximately $11.84 million.

The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Oncology Pharma Inc. stock with a 90% probability to be traded between $18.80 and $39.63 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

Oncology Pharma Inc.

The Oncology Pharma Inc. stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $34.76. On a fall, the stock will find some support from the long-term average at approximately $26.02. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Tuesday, April 27, 2021, and so far it has fallen -13.03%. 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 $34.00 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 $4.50 between high and low, or 13.53%. For the last week, the stock has had a daily average volatility of 18.45%.

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Oncology Pharma Inc. stock to perform well in 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.