Osisko Mining Inc. Stock Forecast
Osisko Mining Inc. stock price down 1.16% on Friday
(Updated on May 03, 2024)
The Osisko Mining Inc. stock price fell by -1.16% on the last day (Friday, 3rd May 2024) from $2.15 to $2.13. During the last trading day the stock fluctuated 3.12% from a day low at $2.11 to a day high of $2.18. The price has fallen in 6 of the last 10 days and is down by -9.19% 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 -76 thousand shares and in total, 111 thousand shares were bought and sold for approximately $236.04 thousand.
Given the current short-term trend, the stock is expected to rise 23.81% during the next 3 months and, with a 90% probability hold a price between $2.63 and $2.98 at the end of this 3-month period.
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OBNNF Signals & Forecast
There are few to no technical positive signals at the moment. The Osisko Mining Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $2.23 and $2.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -9.19%. 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 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 Osisko Mining Inc. stock
Osisko Mining Inc. finds support from accumulated volume at $2.12 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0658 between high and low, or 3.12%. For the last week the stock has had daily average volatility of 4.26%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OBNNF) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Osisko Mining Inc. to open at $2.14, and during the day (based on 14 day Average True Range), to move between $2.03 and $2.22, which gives a possible trading interval of +/-$0.0957 (+/-4.51%) up or down from last closing price. If Osisko Mining Inc. takes out the full calculated possible swing range there will be an estimated 9.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.12 (0.24%) than the resistance at $2.16 (1.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Osisko Mining Inc. stock A Buy?
The Osisko Mining Inc. stock holds several negative signals and despite the positive trend, we believe Osisko Mining Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.249 Sell Candidate Unchanged
Predicted Opening Price for Osisko Mining Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $2.14 ( 0.562%) | $2.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OBNNF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.20 | 3.66 % | |
| R2 | 2.18 | 2.48 % | ||
| R1 | 2.16 | 1.74 % | ||
| Current price: | 2.13 | |||
| Support | S1 | 2.11 | -0.621 % | |
| S2 | 2.10 | -1.35 % | ||
| S3 | 2.07 | -2.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.24 | 5.39 % | |
| R2 | 2.23 | 4.94 % | ||
| R1 | 2.16 | 1.58 % | ||
| Current price | 2.13 | |||
| Support | S1 | 2.12 | -0.235% | |
| S2 | 1.90 | -10.59% | ||
| S3 | 1.83 | -13.88% |
FAQ
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