Organon & Co. Stock Forecast
Organon & Co. stock downgraded to Sell Candidate
(Updated on Apr 25, 2024)
The Organon & Co. stock price fell by -1.55% on the last day (Thursday, 25th Apr 2024) from $18.71 to $18.42. During the last trading day the stock fluctuated 2.91% from a day low at $18.20 to a day high of $18.73. The price has risen in 6 of the last 10 days and is up by 0.77% over the past 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 -534 thousand shares and in total, 1 million shares were bought and sold for approximately $26.70 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.14% during the next 3 months and, with a 90% probability hold a price between $18.69 and $20.81 at the end of this 3-month period.
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OGN Signals & Forecast
The Organon & Co. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $18.17 and $18.15. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -2.02%. Further fall is indicated until a new bottom pivot has been found. 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 Organon & Co. stock
Organon & Co. finds support from accumulated volume at $18.28 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.530 (2.91%) between high and low. For the last week, the stock has had daily average volatility of 3.20%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OGN) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Organon & Co. to open at $18.45, and during the day (based on 14 day Average True Range), to move between $17.89 and $18.95, which gives a possible trading interval of +/-$0.525 (+/-2.85%) up or down from last closing price. If Organon & Co. takes out the full calculated possible swing range there will be an estimated 5.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $18.55 (0.71%) than the support at $18.28 (0.76%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Organon & Co. will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.97. We will update the financials statements for Organon & Co., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.68% in the first trading day after earnings release.
Is Organon & Co. stock A Buy?
Organon & Co. holds several negative signals and we believe that 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 Hold/Accumulate to a Sell candidate.
Current score: -1.242 Sell Candidate Downgraded
Predicted Opening Price for Organon & Co. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $18.45 ( 0.163%) | $18.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OGN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.98 | 3.04 % | |
| R2 | 18.78 | 1.94 % | ||
| R1 | 18.65 | 1.26 % | ||
| Current price: | 18.42 | |||
| Support | S1 | 18.25 | -0.94 % | |
| S2 | 18.12 | -1.62 % | ||
| S3 | 17.92 | -2.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.71 | 1.57 % | |
| R2 | 18.62 | 1.09 % | ||
| R1 | 18.55 | 0.706 % | ||
| Current price | 18.42 | |||
| Support | S1 | 18.28 | -0.760% | |
| S2 | 17.87 | -2.99% | ||
| S3 | 17.82 | -3.26% |
OGN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 16, 2024 | Feb 23, 2024 | Mar 14, 2024 | $0.280 | 1.53% |
| 2 | Nov 02, 2023 | Nov 10, 2023 | Dec 14, 2023 | $0.280 | 2.18% |
| 3 | Aug 08, 2023 | Aug 17, 2023 | Sep 14, 2023 | $0.280 | 1.41% |
| 4 | May 04, 2023 | May 12, 2023 | Jun 15, 2023 | $0.280 | 1.34% |
| 5 | Feb 16, 2023 | Feb 24, 2023 | Mar 16, 2023 | $0.280 | 1.29% |
FAQ
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