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Volatile ride for Oncology Pharma Inc. stock price on Thursday moving between $21.23 and $24.80

StockInvest.us, 1 month ago


The Oncology Pharma Inc. stock price fell by -8.24% on the last day (Thursday, 29th Jul 2021) from $24.16 to $22.17. During the day the stock fluctuated 16.82% from a day low at $21.23 to a day high of $24.80. The price has risen in 7 of the last 10 days and is up by 5.82% over the past 2 weeks. Volume has increased on the last day by 197 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, 374 thousand shares were bought and sold for approximately $8.28 million.

The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $19.71 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 3.07% during the next 3 months and, with a 90% probability hold a price between $20.32 and $38.08 at the end of this 3-month period.

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 $24.27 and $28.55. 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 -19.93%. 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 $21.80 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 $3.57 between high and low, or 16.82%. For the last week, the stock has had a daily average volatility of 10.41%.

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.