Red day on Thursday for Oncology Pharma Inc.StockInvest.us, 5 months ago
The Oncology Pharma Inc. stock price fell by -1.14% on the last day (Thursday, 12th Aug 2021) from $20.20 to $19.97. During the day the stock fluctuated 3.43% from a day low at $19.51 to a day high of $20.18. The price has risen in 5 of the last 10 days, but is still down by -9.92% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -68 thousand shares and in total, 137 thousand shares were bought and sold for approximately $2.73 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $17.07 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -5.24% during the next 3 months and, with a 90% probability hold a price between $16.18 and $33.29 at the end of this 3-month period.
There are mixed signals in the stock today. 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 $20.80 and $24.88. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Tuesday, August 10, 2021, and so far it has risen 1.89%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD).
Oncology Pharma Inc. finds support from accumulated volume at $19.71 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 $0.67 between high and low, or 3.43%. For the last week, the stock has had a daily average volatility of 6.17%.
Oncology Pharma Inc. holds several negative signals and we believe that 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.