Oceanus Group Limited Stock Forecast

Oceanus Group Limited stock price fell more than -9.09% Tuesday closing at S$0.0100
(Updated on Jun 18, 2024)

579.SI Signals & Forecast

The Oceanus Group Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at S$0.0100 and S$0.0094. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -9.09%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Oceanus Group Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at S$0.0090 and S$0.0080. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at S$0.0080 may give a huge drop in the stock price.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved S$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 12.89%.

Our recommended stop-loss: S$0.0095 (-5.33%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 12 days ago.)

Trading Expectations (579.SI) For The Upcoming Trading Day Of Thursday 20th

For the upcoming trading day on Thursday, 20th we expect Oceanus Group Limited to open at S$0.0100, and during the day (based on 14 day Average True Range), to move between S$0.0088 and S$0.0112, which gives a possible trading interval of +/-S$0.0012 (+/-12.39%) up or down from last closing price. If Oceanus Group Limited takes out the full calculated possible swing range there will be an estimated 24.78% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at S$0.0110 (10.00%) than the support at S$0.0090 (10.00%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Oceanus Group Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Oceanus Group Limited stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 1.449 Buy Candidate Downgraded

Predicted Opening Price for Oceanus Group Limited of Thursday, June 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.