Strong day for Oncology Pharma Inc. stock price on Tuesday rising 6.60% to $26.65StockInvest.us, 2 months ago
The Oncology Pharma Inc. stock price gained 6.60% on the last trading day (Tuesday, 20th Jul 2021), rising from $25.00 to $26.65. , and has now gained 4 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 5.44% from a day low at $25.56 to a day high of $26.95. The price has been going up and down for this period, and there has been a -14.96% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 78 thousand more shares were traded than the day before. In total, 303 thousand shares were bought and sold for approximately $8.07 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -10.23% during the next 3 months and, with a 90% probability hold a price between $14.57 and $31.30 at the end of this 3-month period.
A buy signal was issued from a pivot bottom point on Thursday, July 15, 2021, and so far it has risen 27.21%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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 a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $28.26. On a fall, the stock will find some support from the short-term average at $25.03. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD).
On the downside, the stock finds support just below today's level from accumulated volume at $25.10 and $25.00.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 $25.10. If this is broken, then the next support from accumulated volume will be at $25.00 and $20.00.
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 $1.39 between high and low, or 5.44%. For the last week, the stock has had a daily average volatility of 10.98%.
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.