Oncolys BioPharma Inc. Stock Forecast
Red day on Monday for Oncolys BioPharma Inc. stock after losing 0.92%
(Updated on May 20, 2024)
The Oncolys BioPharma Inc. stock price fell by -0.92% on the last day (Monday, 20th May 2024) from JP¥655.00 to JP¥649.00. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 2.47% from a day low at JP¥647.00 to a day high of JP¥663.00. The price has fallen in 6 of the last 10 days and is down by -8.07% 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 -109 thousand shares and in total, 161 thousand shares were bought and sold for approximately JP¥104.62 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at JP¥648.59 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 16.67% during the next 3 months and, with a 90% probability hold a price between JP¥756.71 and JP¥1,001.97 at the end of this 3-month period.
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4588.T Signals & Forecast
There are few to no technical positive signals at the moment. The Oncolys BioPharma 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 JP¥676.86 and JP¥696.17. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 29, 2024, and so far it has fallen -17.74%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Oncolys BioPharma Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥615.00 and JP¥601.00. There is a 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, Oncolys BioPharma Inc. finds support just below today's level at JP¥615.00. If this is broken, then the next support from accumulated volume will be at JP¥601.00 and JP¥584.00.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved JP¥16.00 (2.47%) between high and low. For the last week, the stock has had daily average volatility of 3.59%.
Our recommended stop-loss: JP¥608.24 (-6.28%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 42 days ago.)
Trading Expectations (4588.T) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Oncolys BioPharma Inc. to open at JP¥653.00, and during the day (based on 14 day Average True Range), to move between JP¥621.15 and JP¥676.85, which gives a possible trading interval of +/-JP¥27.85 (+/-4.29%) up or down from last closing price. If Oncolys BioPharma Inc. takes out the full calculated possible swing range there will be an estimated 8.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at JP¥615.00 (5.24%) than the resistance at JP¥695.00 (7.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Oncolys BioPharma Inc. stock A Buy?
Oncolys BioPharma Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.055 Hold/Accumulate Unchanged
Predicted Opening Price for Oncolys BioPharma Inc. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| JP¥653.00 ( 0.616%) | JP¥649.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 4588.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 669.00 | 3.08 % | |
| R2 | 662.89 | 2.14 % | ||
| R1 | 659.11 | 1.56 % | ||
| Current price: | 649.00 | |||
| Support | S1 | 646.89 | -0.325 % | |
| S2 | 643.11 | -0.91 % | ||
| S3 | 637.00 | -1.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 789.00 | 21.57 % | |
| R2 | 766.00 | 18.03 % | ||
| R1 | 695.00 | 7.09 % | ||
| Current price | 649.00 | |||
| Support | S1 | 615.00 | -5.24% | |
| S2 | 601.00 | -7.40% | ||
| S3 | 584.00 | -10.02% |
FAQ
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