Orthofix International N.V. Stock Forecast

Orthofix International N.V. stock upgraded from Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on Apr 22, 2024)

OFIX Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 0.615%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Orthofix International N.V. 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 $13.11 and $13.76. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Orthofix International N.V. stock

Orthofix International N.V. finds support from accumulated volume at $13.07 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 $0.500 between high and low, or 3.90%. For the last week, the stock has had daily average volatility of 3.08%.

Our recommended stop-loss: $12.31 (-5.91%) (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 (OFIX) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Orthofix International N.V. to open at $13.07, and during the day (based on 14 day Average True Range), to move between $12.58 and $13.58, which gives a possible trading interval of +/-$0.496 (+/-3.79%) up or down from last closing price. If Orthofix International N.V. takes out the full calculated possible swing range there will be an estimated 7.59% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $13.07 (0.08%) than the resistance at $14.00 (7.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Orthofix International N.V. stock A Buy?

Orthofix International N.V. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.376 Hold/Accumulate Upgraded

Predicted Opening Price for Orthofix International N.V. of Tuesday, April 23, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.