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Volatile ride for Oncology Pharma Inc. stock price on Wednesday moving between $14.02 and $17.99

StockInvest.us, 3 months ago


The Oncology Pharma Inc. stock price gained 24.69% on the last trading day (Wednesday, 25th Aug 2021), rising from $14.42 to $17.98. During the day the stock fluctuated 28.32% from a day low at $14.02 to a day high of $17.99. The price has fallen in 7 of the last 10 days and is down by -10.99% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 67 thousand more shares were traded than the day before. In total, 235 thousand shares were bought and sold for approximately $4.23 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 -28.29% during the next 3 months and, with a 90% probability hold a price between $10.22 and $19.88 at the end of this 3-month period.

Oncology Pharma Inc.

A buy signal was issued from a pivot bottom point on Tuesday, August 24, 2021, and so far it has risen 24.69%. 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 $21.91. On a fall, the stock will find some support from the short-term average at $17.08. 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).

Oncology Pharma Inc. finds support from accumulated volume at $17.85 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 $3.97 between high and low, or 28.32%. For the last week, the stock has had a daily average volatility of 21.02%.

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.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.