Organon & Co. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Organon & Co. stock downgraded to Hold/Accumulate
(Updated on May 03, 2024)
The Organon & Co. stock price gained 0.564% on the last trading day (Friday, 3rd May 2024), rising from $19.50 to $19.61. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.59% from a day low at $19.41 to a day high of $20.30. The price has risen in 8 of the last 10 days and is up by 10.04% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 3 million shares were bought and sold for approximately $62.74 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $20.00 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 8.17% during the next 3 months and, with a 90% probability hold a price between $19.27 and $21.64 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 $18.92 and $18.25. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 12.38%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
A buy signal from a double bottom formation was found on Friday, April 12, 2024 with a target of $19.32. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Organon & Co. stock
Organon & Co. finds support from accumulated volume at $18.71 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 $0.89 between high and low, or 4.59%. For the last week, the stock has had daily average volatility of 4.22%.
The Organon & Co. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $18.89 (-3.66%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (OGN) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Organon & Co. to open at $19.77, and during the day (based on 14 day Average True Range), to move between $18.99 and $20.23, which gives a possible trading interval of +/-$0.617 (+/-3.15%) up or down from last closing price. If Organon & Co. takes out the full calculated possible swing range there will be an estimated 6.29% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $18.71, some $0.90 (4.59%) from the current price of $19.61, our system finds the risk reward attractive.
Is Organon & Co. stock A Buy?
Organon & Co. 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 Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Organon & Co. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $19.77 ( 0.83%) | $19.61 |
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 | 20.66 | 5.37 % | |
| R2 | 20.32 | 3.64 % | ||
| R1 | 20.11 | 2.57 % | ||
| Current price: | 19.61 | |||
| Support | S1 | 19.43 | -0.90 % | |
| S2 | 19.22 | -1.97 % | ||
| S3 | 18.88 | -3.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 19.61 | |||
| Support | S1 | 18.71 | -4.59% | |
| S2 | 18.62 | -5.05% | ||
| S3 | 18.55 | -5.41% |
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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