Orchestra Biomed Holdings, Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Orchestra Biomed Holdings, Inc. stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Orchestra Biomed Holdings, Inc. stock price gained 2.77% on the last trading day (Friday, 28th Jun 2024), rising from $7.93 to $8.15. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 7.19% from a day low at $7.79 to a day high of $8.35. The price has risen in 7 of the last 10 days and is up by 4.22% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 974 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $8.76 million.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $8.51 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 73.64% during the next 3 months and, with a 90% probability hold a price between $10.83 and $14.77 at the end of this 3-month period.
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OBIO Signals & Forecast
The Orchestra Biomed Holdings, Inc. 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 $6.98 and $6.59. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 38.37%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Orchestra Biomed Holdings, Inc. stock
Orchestra Biomed Holdings, Inc. finds support from accumulated volume at $7.90 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 $0.560 between high and low, or 7.19%. For the last week, the stock has had daily average volatility of 10.33%.
Our recommended stop-loss: $7.83 (-3.96%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (OBIO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Orchestra Biomed Holdings, Inc. to open at $8.10, and during the day (based on 14 day Average True Range), to move between $7.45 and $8.85, which gives a possible trading interval of +/-$0.703 (+/-8.63%) up or down from last closing price. If Orchestra Biomed Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 17.26% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $7.90, some $0.250 (3.07%) from the current price of $8.15, our system finds the risk reward attractive.
Is Orchestra Biomed Holdings, Inc. stock A Buy?
Orchestra Biomed Holdings, Inc. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.649 Strong Buy Candidate Upgraded
Predicted Opening Price for Orchestra Biomed Holdings, Inc. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $8.10 ( 0.654%) | $8.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OBIO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.66 | 6.22% |
| R2 | 8.44 | 3.59% |
| R1 | 8.31 | 1.97% |
| Price | 8.15 | |
| S1 | 7.88 | -3.28% |
| S2 | 7.75 | -4.90% |
| S3 | 7.54 | -7.53% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 8.15 | |
| S1 | 7.90 | -3.07% |
| S2 | 6.97 | -14.48% |
| S3 | 6.67 | -18.16% |
FAQ
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