OKT Chain USD Stock Forecast
OKT Chain USD stock price down 2.79% on Friday
(Updated on Jun 21, 2024)
The OKT Chain USD stock price fell by -2.79% on the last day (Friday, 21st Jun 2024) from $11.51 to $11.19. During the last trading day the stock fluctuated 3.94% from a day low at $11.09 to a day high of $11.53. The price has been going up and down for this period, and there has been a -13.34% loss for the last 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 -80 thousand shares and in total, 591 thousand shares were bought and sold for approximately $6.61 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -31.00% during the next 3 months and, with a 90% probability hold a price between $6.43 and $10.28 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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OKTUSD Signals & Forecast
There are few to no technical positive signals at the moment. The OKT Chain USD stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $11.90 and $13.43. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Sunday, May 26, 2024, and so far it has fallen -26.40%. 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). 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 OKT Chain USD stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.437 between high and low, or 3.94%. For the last week, the stock has had daily average volatility of 6.46%.
OKT Chain USD is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OKTUSD) For The Upcoming Trading Day Of Saturday 22nd
For the upcoming trading day on Saturday, 22nd we expect OKT Chain USD to open at $11.27, and during the day (based on 14 day Average True Range), to move between $10.62 and $11.77, which gives a possible trading interval of +/-$0.575 (+/-5.13%) up or down from last closing price. If OKT Chain USD takes out the full calculated possible swing range there will be an estimated 10.27% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $11.27, some $0.0768 (0.69%) from the current price of $11.19, our system finds the risk reward not very attractive.
Is OKT Chain USD stock A Buy?
OKT Chain USD holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.423 Sell Candidate Unchanged
Predicted Opening Price for OKT Chain USD of Saturday, June 22, 2024
| Fair opening price June 22, 2024 | Current price |
|---|---|
| $11.27 ( 0.692%) | $11.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OKTUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.71 | 4.59% |
| R2 | 11.54 | 3.10% |
| R1 | 11.44 | 2.18% |
| Price | 11.19 | |
| S1 | 11.10 | -0.798% |
| S2 | 11.00 | -1.72% |
| S3 | 10.83 | -3.21% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.97 | 24.79% |
| R2 | 13.15 | 17.45% |
| R1 | 11.27 | 0.686% |
| Price | 11.19 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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