Oblong Inc. Stock Forecast
Volatile ride for Oblong Inc. stock price on Thursday moving between $0.111 and $0.125
(Updated on May 02, 2024)
The Oblong Inc. stock price gained 5.55% on the last trading day (Thursday, 2nd May 2024), rising from $0.114 to $0.120. During the last trading day the stock fluctuated 12.92% from a day low at $0.111 to a day high of $0.125. The price has fallen in 7 of the last 10 days and is down by -6.63% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 587 thousand more shares were traded than the day before. In total, 847 thousand shares were bought and sold for approximately $101.51 thousand.
The stock lies in the middle of a 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 -33.76% during the next 3 months and, with a 90% probability hold a price between $0.0715 and $0.0866 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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OBLG Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 8.81%. Further rise is indicated until a new top pivot has been found. 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 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 $0.130. On a fall, the stock will find some support from the short-term average at $0.115. 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 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Oblong Inc. stock
Oblong Inc. finds support from accumulated volume at $0.116 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 $0.0143 between high and low, or 12.92%. For the last week, the stock has had daily average volatility of 9.53%.
Our recommended stop-loss: $0.115 (-4.18%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (OBLG) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Oblong Inc. to open at $0.119, and during the day (based on 14 day Average True Range), to move between $0.107 and $0.132, which gives a possible trading interval of +/-$0.0127 (+/-10.59%) up or down from last closing price. If Oblong Inc. takes out the full calculated possible swing range there will be an estimated 21.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.116 (3.26%) than the resistance at $0.126 (5.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Oblong Inc. will release earnings BMO on Wednesday, May 08, 2024. We will update the financials statements for Oblong Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 16.38% in the first trading day after earnings release.
Is Oblong Inc. stock A Buy?
Oblong Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.806 Hold/Accumulate Upgraded
Predicted Opening Price for Oblong Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.119 ( 1.09%) | $0.120 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 0.133 | 10.85 % | |
| R2 | 0.127 | 6.29 % | ||
| R1 | 0.124 | 3.47 % | ||
| Current price: | 0.120 | |||
| Support | S1 | 0.113 | -5.64 % | |
| S2 | 0.110 | -8.46 % | ||
| S3 | 0.104 | -13.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.142 | 18.61 % | |
| R2 | 0.135 | 12.69 % | ||
| R1 | 0.126 | 5.18 % | ||
| Current price | 0.120 | |||
| Support | S1 | 0.116 | -3.26% | |
| S2 | 0.113 | -5.59% | ||
| S3 | 0.110 | -8.01% |
FAQ
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