Omnicell Stock Forecast
Omnicell stock price down 1.84% on Tuesday
(Updated on Jul 02, 2024)
The Omnicell stock price fell by -1.84% on the last day (Tuesday, 2nd Jul 2024) from $26.65 to $26.16. During the last trading day the stock fluctuated 5.69% from a day low at $25.64 to a day high of $27.10. The price has fallen in 7 of the last 10 days and is down by -6.27% for this period. 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 -14 thousand shares and in total, 493 thousand shares were bought and sold for approximately $12.90 million.
Given the current short-term trend, the stock is expected to rise 2.41% during the next 3 months and, with a 90% probability hold a price between $26.79 and $33.72 at the end of this 3-month period.
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OMCL Signals & Forecast
There are few to no technical positive signals at the moment. The Omnicell 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 $26.61 and $29.55. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 30, 2024, and so far it has fallen -19.88%. 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 Omnicell 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 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 $1.46 between high and low, or 5.69%. For the last week, the stock has had daily average volatility of 4.21%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OMCL) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Omnicell to open at $26.30, and during the day (based on 14 day Average True Range), to move between $24.90 and $27.42, which gives a possible trading interval of +/-$1.26 (+/-4.82%) up or down from last closing price. If Omnicell takes out the full calculated possible swing range there will be an estimated 9.63% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $26.27, some $0.110 (0.42%) from the current price of $26.16, our system finds the risk reward not very attractive.
Is Omnicell stock A Buy?
The Omnicell stock holds several negative signals and despite the positive trend, we believe Omnicell will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.201 Sell Candidate Unchanged
Predicted Opening Price for Omnicell of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $26.30 ( 0.535%) | $26.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OMCL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.76 | 6.12% |
| R2 | 27.20 | 3.98% |
| R1 | 26.86 | 2.67% |
| Price | 26.16 | |
| S1 | 25.74 | -1.60% |
| S2 | 25.40 | -2.91% |
| S3 | 24.84 | -5.05% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.44 | 4.89% |
| R2 | 27.07 | 3.48% |
| R1 | 26.27 | 0.420% |
| Price | 26.16 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
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