Oblong Inc. Stock Forecast
Oblong Inc. stock price ended at $0.173 on Tuesday, after gaining 0.756%.
(Updated on Jul 02, 2024)
The Oblong Inc. stock price gained 0.756% on the last trading day (Tuesday, 2nd Jul 2024), rising from $0.172 to $0.173. During the last trading day the stock fluctuated 9.00% from a day low at $0.162 to a day high of $0.177. The price has been going up and down for this period, and there has been a 13.05% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 thousand more shares were traded than the day before. In total, 630 thousand shares were bought and sold for approximately $109.18 thousand.
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 $0.164 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 42.03% during the next 3 months and, with a 90% probability hold a price between $0.233 and $0.478 at the end of this 3-month period.
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OBLG Signals & Forecast
Oblong Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Oblong 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 $0.182 and $0.193. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -43.95%. 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).
Support, Risk & Stop-loss for Oblong Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.163 and $0.153. 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, Oblong Inc. finds support just below today's level at $0.163. If this is broken, then the next support from accumulated volume will be at $0.153 and $0.152.
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 $0.0146 between high and low, or 9.00%. For the last week, the stock has had daily average volatility of 17.55%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OBLG) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Oblong Inc. to open at $0.171, and during the day (based on 14 day Average True Range), to move between $0.138 and $0.209, which gives a possible trading interval of +/-$0.0357 (+/-20.61%) up or down from last closing price. If Oblong Inc. takes out the full calculated possible swing range there will be an estimated 41.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.182 (5.02%) than the support at $0.163 (5.94%), 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 Oblong Inc. stock A Buy?
The Oblong Inc. stock holds several negative signals and despite the positive trend, we believe Oblong Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.839 Sell Candidate Unchanged
Predicted Opening Price for Oblong Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.171 ( 1.42%) | $0.173 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OBLG
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.185 | 7.00% |
| R2 | 0.180 | 3.78% |
| R1 | 0.176 | 1.79% |
| Price | 0.173 | |
| S1 | 0.165 | -4.64% |
| S2 | 0.162 | -6.63% |
| S3 | 0.156 | -9.85% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.212 | 22.45% |
| R2 | 0.195 | 12.46% |
| R1 | 0.182 | 5.02% |
| Price | 0.173 | |
| S1 | 0.163 | -5.94% |
| S2 | 0.153 | -11.54% |
| S3 | 0.152 | -12.58% |
FAQ
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