Stronger technical forecast for Oncology Pharma Inc. stock price after Wednesday trading.StockInvest.us, 1 month ago
The Oncology Pharma Inc. stock price gained 3.06% on the last trading day (Wednesday, 11th Aug 2021), rising from $19.60 to $20.20. During the day the stock fluctuated 3.79% from a day low at $19.51 to a day high of $20.25. The price has risen in 5 of the last 10 days, but is still down by -16.39% for this period. Volume fell on the last day by -46 thousand shares and in total, 204 thousand shares were bought and sold for approximately $4.12 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.
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 $17.90 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -2.87% during the next 3 months and, with a 90% probability hold a price between $17.39 and $34.70 at the end of this 3-month period.
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. 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 $21.03 and $25.27. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 15, 2021, and so far it has fallen -44.51%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD).
Oncology Pharma Inc. finds support from accumulated volume at $20.00 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 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 $0.74 between high and low, or 3.79%. For the last week, the stock has had a daily average volatility of 6.63%.
Oncology Pharma Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.Check full Oncology Pharma Inc. forecast and analysis here.