Oddity Tech Ltd. Stock Forecast
Red day on Friday for Oddity Tech Ltd.
(Updated on May 10, 2024)
The Oddity Tech Ltd. stock price fell by -2.18% on the last day (Friday, 10th May 2024) from $38.01 to $37.18. During the last trading day the stock fluctuated 6.00% from a day low at $36.09 to a day high of $38.26. The price has been going up and down for this period, and there has been a 15.5% gain for the last 2 weeks. 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 -260 thousand shares and in total, 775 thousand shares were bought and sold for approximately $28.81 million.
The stock lies in the middle of a very 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 -23.76% during the next 3 months and, with a 90% probability hold a price between $23.38 and $29.73 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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ODD Signals & Forecast
The Oddity Tech Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $34.64 and $36.11. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 18.94%. 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. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Oddity Tech Ltd. stock
Oddity Tech Ltd. finds support from accumulated volume at $36.49 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.17 between high and low, or 6.00%. For the last week, the stock has had daily average volatility of 7.08%.
Our recommended stop-loss: $35.81 (-3.68%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (ODD) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Oddity Tech Ltd. to open at $37.18, and during the day (based on 14 day Average True Range), to move between $35.07 and $39.29, which gives a possible trading interval of +/-$2.11 (+/-5.67%) up or down from last closing price. If Oddity Tech Ltd. takes out the full calculated possible swing range there will be an estimated 11.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $36.49 (1.86%) than the resistance at $43.81 (17.83%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Oddity Tech Ltd. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.752 Buy Candidate Unchanged
Predicted Opening Price for Oddity Tech Ltd. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $37.18 ( 0.0117%) | $37.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ODD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.34 | 5.82 % | |
| R2 | 38.51 | 3.59 % | ||
| R1 | 38.00 | 2.21 % | ||
| Current price: | 37.18 | |||
| Support | S1 | 36.35 | -2.24 % | |
| S2 | 35.84 | -3.61 % | ||
| S3 | 35.01 | -5.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.00 | 21.03 % | |
| R2 | 44.43 | 19.50 % | ||
| R1 | 43.81 | 17.83 % | ||
| Current price | 37.18 | |||
| Support | S1 | 36.49 | -1.86% | |
| S2 | 32.90 | -11.51% | ||
| S3 | 31.26 | -15.92% |
FAQ
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