Oi S.A. Stock Forecast
Green day on Thursday for Oi S.A. stock after gaining 0.472%
(Updated on Jul 04, 2024)
The Oi S.A. stock price gained 0.472% on the last trading day (Thursday, 4th Jul 2024), rising from R$6.35 to R$6.38. It has now gained 9 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 4.87% from a day low at R$6.37 to a day high of R$6.68. The price has risen in 9 of the last 10 days and is up by 39.91% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 1 million shares were bought and sold for approximately R$8.75 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 has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at R$4.10, a level that may pose a second chance to hit a runner. According to fan-theory R$6.69 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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OIBR3.SA Signals & Forecast
Mostly positive signals in the chart today. The Oi S.A. 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 R$5.77 and R$2.41. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 1,176.00%. 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.
Support, Risk & Stop-loss for Oi S.A. stock
Oi S.A. finds support from accumulated volume at R$6.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved R$0.310 between high and low, or 4.87%. For the last week, the stock has had daily average volatility of 8.51%.
The Oi S.A. stock is extremely overbought on RSI14 (96). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the Oi S.A. has been rising for 9 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: R$6.22 (-2.58%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 96 and this increases the risk substantially. There is a buy signal from a pivot bottom found 41 days ago.)
Trading Expectations (OIBR3.SA) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Oi S.A. to open at R$6.48, and during the day (based on 14 day Average True Range), to move between R$5.99 and R$6.77, which gives a possible trading interval of +/-R$0.392 (+/-6.14%) up or down from last closing price. If Oi S.A. takes out the full calculated possible swing range there will be an estimated 12.29% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ R$6.35, some R$0.0300 (0.47%) from the current price of R$6.38, our system finds the risk reward attractive.
Is Oi S.A. stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Oi S.A. stock to perform well in the short-term period.
Current score: 5.188 Strong Buy Candidate Unchanged
Predicted Opening Price for Oi S.A. of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| R$6.48 ( 1.52%) | R$6.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OIBR3.SA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.79 | 6.37% |
| R2 | 6.67 | 4.52% |
| R1 | 6.60 | 3.37% |
| Price | 6.38 | |
| S1 | 6.36 | -0.341% |
| S2 | 6.29 | -1.49% |
| S3 | 6.17 | -3.34% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 6.38 | |
| S1 | 6.35 | -0.470% |
| S2 | 6.22 | -2.51% |
| S3 | 5.97 | -6.43% |
OIBR3 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 30, 2013 | Sep 30, 2013 | Sep 30, 2013 | R$22.75 | 0.673% |
| 2 | Mar 22, 2013 | Mar 22, 2013 | Mar 22, 2013 | R$38.11 | 0.759% |
| 3 | Aug 20, 2012 | Aug 20, 2012 | Aug 20, 2012 | R$3.10 | 0.0490% |
| 4 | May 02, 2012 | May 02, 2012 | May 02, 2012 | R$91.01 | 1.15% |
| 5 | Apr 28, 2011 | Apr 28, 2011 | Apr 28, 2011 | R$22.33 | 1.75% |
FAQ
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