Oceaneering International Inc Stock Forecast
Oceaneering International Inc stock upgraded to Buy Candidate.
(Updated on Jul 02, 2024)
The Oceaneering International Inc stock price gained 1.11% on the last trading day (Tuesday, 2nd Jul 2024), rising from $23.52 to $23.78. During the last trading day the stock fluctuated 1.78% from a day low at $23.55 to a day high of $23.97. The price has risen in 7 of the last 10 days and is up by 11.23% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 83 thousand more shares were traded than the day before. In total, 648 thousand shares were bought and sold for approximately $15.40 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $23.30, a level that may pose a second chance to hit a runner. According to fan-theory $26.31 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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OII Signals & Forecast
Mostly positive signals in the chart today. The Oceaneering International Inc 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 $23.15 and $22.64. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 14.00%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Oceaneering International Inc stock
Oceaneering International Inc finds support from accumulated volume at $23.49 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 $0.420 between high and low, or 1.78%. For the last week, the stock has had daily average volatility of 2.14%.
Our recommended stop-loss: $22.94 (-3.52%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 62 days ago.)
Trading Expectations (OII) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Oceaneering International Inc to open at $23.77, and during the day (based on 14 day Average True Range), to move between $23.10 and $24.46, which gives a possible trading interval of +/-$0.678 (+/-2.85%) up or down from last closing price. If Oceaneering International Inc takes out the full calculated possible swing range there will be an estimated 5.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $23.49 (1.22%) than the resistance at $24.28 (2.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Oceaneering International Inc stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.349 Buy Candidate Upgraded
Predicted Opening Price for Oceaneering International Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $23.77 ( 0.0561%) | $23.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OII
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.19 | 1.71% |
| R2 | 24.03 | 1.04% |
| R1 | 23.93 | 0.619% |
| Price | 23.78 | |
| S1 | 23.61 | -0.731% |
| S2 | 23.51 | -1.15% |
| S3 | 23.35 | -1.82% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.55 | 3.24% |
| R2 | 24.42 | 2.69% |
| R1 | 24.28 | 2.10% |
| Price | 23.78 | |
| S1 | 23.49 | -1.22% |
| S2 | 21.75 | -8.54% |
| S3 | 21.14 | -11.10% |
OII Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 26, 2017 | Aug 23, 2017 | Sep 15, 2017 | $0.150 | 0.581% |
| 2 | Apr 26, 2017 | May 24, 2017 | Jun 16, 2017 | $0.150 | 0.601% |
| 3 | Feb 08, 2017 | Feb 22, 2017 | Mar 17, 2017 | $0.150 | 0.578% |
| 4 | Oct 28, 2016 | Nov 22, 2016 | Dec 16, 2016 | $0.150 | 0.481% |
| 5 | Jul 21, 2016 | Aug 24, 2016 | Sep 16, 2016 | $0.270 | 1.07% |
FAQ
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