Ollie Stock Forecast

Buy or Hold candidate since Nov 22, 2024 Gain 5.56%

The Ollie stock price gained 0.93% on the last trading day (Monday, 2nd Dec 2024), rising from $98.95 to $99.87. During the last trading day the stock fluctuated 2.27% from a day low at $97.80 to a day high of $100.02. The price has risen in 6 of the last 10 days and is up by 8.64% 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, 235 thousand more shares were traded than the day before. In total, 866 thousand shares were bought and sold for approximately $86.51 million.

The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $101.73 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Ollie stock with a 90% probability to be traded between $87.15 and $101.31 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stock seldom manage to go directly from the bottom of a trend up to the top. Stock turning up in the middle of a horizontal trend are therefore considered to be potential runners.

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OLLI Signals & Forecast

The Ollie 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 $98.11 and $94.06. A breakdown below any of these levels will issue sell signals. 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. 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, November 27, 2024, and so far it has fallen -1.21%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Ollie stock

Ollie finds support from accumulated volume at $95.50 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 $2.22 between high and low, or 2.27%. For the last week, the stock has had daily average volatility of 3.57%.

Our recommended stop-loss: $95.50 (-4.37%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (OLLI) For The Upcoming Trading Day Of Tuesday 3rd

For the upcoming trading day on Tuesday, 3rd we expect Ollie to open at $99.23, and during the day (based on 14 day Average True Range), to move between $96.80 and $102.94, which gives a possible trading interval of +/-$3.07 (+/-3.07%) up or down from last closing price. If Ollie takes out the full calculated possible swing range there will be an estimated 6.15% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $100.58 (0.71%) than the support at $95.50 (4.38%), 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 Ollie stock A Buy?

Ollie 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.

Current score: 0.039 Hold/Accumulate Unchanged

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Predicted Fair Opening Price

Predicted fair opening price on December 3, 2024 - $99.23 ( 0.641%).