Oragenics Inc Stock Forecast
Weaker technical forecast for Oragenics Inc as stock downgraded to Strong Sell Candidate.
(Updated on Apr 25, 2024)
The Oragenics Inc stock price fell by -2.75% on the last day (Thursday, 25th Apr 2024) from $1.09 to $1.06. During the last trading day the stock fluctuated 9.63% from a day low at $1.05 to a day high of $1.15. The price has fallen in 4 of the last 10 days and is down by -13.82% for this period. Volume has increased on the last day by 48 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 57 thousand shares were bought and sold for approximately $60.82 thousand.
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. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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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OGEN Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has fallen 0%. 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 Oragenics Inc 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 $1.09 and $1.30. 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). Oragenics Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Oragenics Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.101 between high and low, or 9.63%. For the last week, the stock has had daily average volatility of 7.26%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OGEN) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Oragenics Inc to open at $1.09, and during the day (based on 14 day Average True Range), to move between $0.93 and $1.19, which gives a possible trading interval of +/-$0.125 (+/-11.81%) up or down from last closing price. If Oragenics Inc takes out the full calculated possible swing range there will be an estimated 23.63% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $1.08, some $0.0200 (1.89%) from the current price of $1.06, our system finds the risk reward not very attractive.
Is Oragenics Inc stock A Buy?
Oragenics Inc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.294 Strong Sell Candidate Downgraded
Predicted Opening Price for Oragenics Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $1.09 ( 2.48%) | $1.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OGEN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.19 | 12.01 % | |
| R2 | 1.15 | 8.37 % | ||
| R1 | 1.12 | 6.12 % | ||
| Current price: | 1.06 | |||
| Support | S1 | 1.05 | -1.16 % | |
| S2 | 1.02 | -3.40 % | ||
| S3 | 0.99 | -7.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.32 | 24.53 % | |
| R2 | 1.20 | 13.21 % | ||
| R1 | 1.08 | 1.89 % | ||
| Current price | 1.06 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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