OceanaGold Corporation Stock Forecast
OceanaGold Corporation stock downgraded to Hold/Accumulate
(Updated on Jun 28, 2024)
The OceanaGold Corporation stock price fell by -1.29% on the last day (Friday, 28th Jun 2024) from $2.33 to $2.30. During the last trading day the stock fluctuated 0% from a day low at $2.30 to a day high of $2.30. The price has fallen in 5 of the last 10 days and is down by -1.29% 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 -4 thousand shares and in total, 155 shares were bought and sold for approximately $356.50 .
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect OceanaGold Corporation stock with a 90% probability to be traded between $2.17 and $2.48 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
OCANF Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 1.32%. Further rise is indicated until a new top pivot has been found. 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. The OceanaGold Corporation 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 $2.33 and $2.32. A break-up above any of these levels will issue buy signals. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for OceanaGold Corporation stock
OceanaGold Corporation finds support from accumulated volume at $2.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.690%.
Our recommended stop-loss: $2.17 (-5.49%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (OCANF) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect OceanaGold Corporation to open at $2.30, and during the day (based on 14 day Average True Range), to move between $2.23 and $2.37, which gives a possible trading interval of +/-$0.0738 (+/-3.21%) up or down from last closing price. If OceanaGold Corporation takes out the full calculated possible swing range there will be an estimated 6.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.25 (2.17%) than the resistance at $2.35 (2.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is OceanaGold Corporation stock A Buy?
OceanaGold Corporation 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.166 Hold/Accumulate Downgraded
Predicted Opening Price for OceanaGold Corporation of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $2.30 ( 0%) | $2.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OCANF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.30 | - |
| R2 | 2.30 | - |
| R1 | 2.30 | - |
| Price | 2.30 | |
| S1 | 2.30 | - |
| S2 | 2.30 | - |
| S3 | 2.30 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.45 | 6.52% |
| R2 | 2.37 | 3.04% |
| R1 | 2.35 | 2.17% |
| Price | 2.30 | |
| S1 | 2.25 | -2.17% |
| S2 | 2.22 | -3.48% |
| S3 | 2.21 | -3.91% |
OCANF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 29, 2024 | Mar 06, 2024 | Apr 26, 2024 | $0.0100 | 0.427% |
| 2 | Aug 23, 2023 | Aug 23, 2023 | Oct 06, 2023 | $0.0100 | 0.546% |
| 3 | Mar 01, 2023 | Mar 08, 2023 | Apr 28, 2023 | $0.0100 | 0.437% |
| 4 | Mar 06, 2019 | Mar 06, 2019 | Mar 06, 2019 | $0.0100 | 0.332% |
| 5 | Aug 08, 2018 | Aug 08, 2018 | Aug 08, 2018 | $0.0200 | 0.654% |
FAQ
Click here for our free guide on how to buy OceanaGold Corporation Stock.
