Odyssean Investment Trust Plc Trust Forecast
Evaluation of Odyssean Investment Trust Plc trust downgraded after the last trading session.
(Updated on Jun 28, 2024)
The Odyssean Investment Trust Plc trust price gained 0.576% on the last trading day (Friday, 28th Jun 2024), rising from £173.50 to £174.50. During the last trading day the trust fluctuated 1.87% from a day low at £172.29 to a day high of £175.50. The price has been going up and down for this period, and there has been a -0.14% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 599 thousand more shares were traded than the day before. In total, 599 thousand shares were bought and sold for approximately £104.47 million.
The trust lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £173.15 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the trust is expected to rise 14.23% during the next 3 months and, with a 90% probability hold a price between £197.80 and £211.46 at the end of this 3-month period.
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OIT.L Signals & Forecast
The Odyssean Investment Trust Plc trust 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 £173.43 and £171.55. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Wednesday, May 22, 2024, and so far it has fallen -0.570%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The trust had a Golden Star Signal on Friday, April 05, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the trust in question.
Golden Star 12 Months
The trust had a Golden Star Signal on Friday, April 05, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the trust in question.
Support, Risk & Stop-loss for Odyssean Investment Trust Plc trust
Odyssean Investment Trust Plc finds support from accumulated volume at £172.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the trust tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the trust moved £3.21 between high and low, or 1.87%. For the last week the trust has had daily average volatility of 1.33%.
Our recommended stop-loss: £167.41 (-4.06%) (This trust has low daily movements and this gives low risk. There is a sell signal from a pivot top found 45 days ago.)
Trading Expectations (OIT.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Odyssean Investment Trust Plc to open at £174.10, and during the day (based on 14 day Average True Range), to move between £171.65 and £177.35, which gives a possible trading interval of +/-£2.85 (+/-1.63%) up or down from last closing price. If Odyssean Investment Trust Plc takes out the full calculated possible swing range there will be an estimated 3.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £174.75 (0.14%) than the support at £172.00 (1.43%), 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.
Is Odyssean Investment Trust Plc trust A Buy?
Odyssean Investment Trust Plc 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 trust since the last evaluation from a 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 Odyssean Investment Trust Plc of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £174.10 ( 0.232%) | £174.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OIT.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 177.31 | 1.61% |
| R2 | 176.08 | 0.91% |
| R1 | 175.32 | 0.472% |
| Price | 174.50 | |
| S1 | 172.87 | -0.94% |
| S2 | 172.11 | -1.37% |
| S3 | 170.88 | -2.07% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 175.50 | 0.573% |
| R2 | 175.00 | 0.287% |
| R1 | 174.75 | 0.143% |
| Price | 174.50 | |
| S1 | 172.00 | -1.43% |
| S2 | 171.00 | -2.01% |
| S3 | 160.00 | -8.31% |
FAQ
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