Osisko Metals Incorporated Stock Forecast
Strong day for Osisko Metals Incorporated stock price on Friday rising 8.70% to $0.250
(Updated on May 17, 2024)
The Osisko Metals Incorporated stock price gained 8.70% on the last trading day (Friday, 17th May 2024), rising from $0.230 to $0.250. During the last trading day the stock fluctuated 8.51% from a day low at $0.235 to a day high of $0.255. The price has risen in 6 of the last 10 days and is up by 38.89% 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, 444 thousand more shares were traded than the day before. In total, 444 thousand shares were bought and sold for approximately $110.89 thousand.
The stock has broken the 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 $0.213, a level that may pose a second chance to hit a runner.
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OM.V Signals & Forecast
The Osisko Metals Incorporated 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 $0.227 and $0.183. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 10, 2024, and so far it has risen 56.25%. 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). Osisko Metals Incorporated has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Osisko Metals Incorporated stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.235 and $0.210. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Osisko Metals Incorporated finds support just below today's level at $0.235. If this is broken, then the next support from accumulated volume will be at $0.210 and $0.200.
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 $0.0200 between high and low, or 8.51%. For the last week, the stock has had daily average volatility of 7.58%.
The Osisko Metals Incorporated stock is extremely overbought on RSI14 (83). 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.
Our recommended stop-loss: $0.242 (-3.34%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 27 days ago.)
Trading Expectations (OM.V) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Osisko Metals Incorporated to open at $0.247, and during the day (based on 14 day Average True Range), to move between $0.238 and $0.262, which gives a possible trading interval of +/-$0.0125 (+/-4.99%) up or down from last closing price. If Osisko Metals Incorporated takes out the full calculated possible swing range there will be an estimated 9.98% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.235, some $0.0150 (6.00%) from the current price of $0.250, our system finds the risk reward attractive.
Is Osisko Metals Incorporated stock A Buy?
Osisko Metals Incorporated 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 stock 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 Osisko Metals Incorporated of Tuesday, May 21, 2024
Fair opening price May 21, 2024 | Current price |
---|---|
$0.247 ( 1.33%) | $0.250 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OM.V
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.267 | 6.67 % | |
R2 | 0.259 | 3.61 % | ||
R1 | 0.254 | 1.72 % | ||
Current price: | 0.250 | |||
Support | S1 | 0.239 | -4.39 % | |
S2 | 0.234 | -6.28 % | ||
S3 | 0.227 | -9.33 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 0.250 | |||
Support | S1 | 0.235 | -6.00% | |
S2 | 0.210 | -16.00% | ||
S3 | 0.200 | -20.00% |
FAQ
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