Omnicell Stock Forecast
Green day on Friday for Omnicell
(Updated on May 03, 2024)
The Omnicell stock price gained 2.87% on the last trading day (Friday, 3rd May 2024), rising from $29.29 to $30.13. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.74% from a day low at $29.35 to a day high of $30.74. The price has risen in 6 of the last 10 days and is up by 8.26% 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, 231 thousand more shares were traded than the day before. In total, 836 thousand shares were bought and sold for approximately $25.20 million.
The stock lies in the middle of a 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 -2.91% during the next 3 months and, with a 90% probability hold a price between $24.71 and $30.63 at the end of this 3-month period.
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OMCL Signals & Forecast
Mostly positive signals in the chart today. The Omnicell 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 $27.97 and $27.83. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 28, 2024, and so far it has risen 15.22%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Omnicell stock
Omnicell finds support from accumulated volume at $29.10 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 $1.39 between high and low, or 4.74%. For the last week, the stock has had daily average volatility of 5.27%.
Our recommended stop-loss: $29.03 (-3.64%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 46 days ago.)
Trading Expectations (OMCL) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Omnicell to open at $30.07, and during the day (based on 14 day Average True Range), to move between $28.95 and $31.31, which gives a possible trading interval of +/-$1.18 (+/-3.90%) up or down from last closing price. If Omnicell takes out the full calculated possible swing range there will be an estimated 7.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $30.45 (1.06%) than the support at $29.10 (3.42%), 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 Omnicell stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 3.645 Buy Candidate Unchanged
Predicted Opening Price for Omnicell of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $30.07 ( 0.188%) | $30.13 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 31.46 | 4.43 % | |
| R2 | 30.93 | 2.66 % | ||
| R1 | 30.60 | 1.57 % | ||
| Current price: | 30.13 | |||
| Support | S1 | 29.54 | -1.95 % | |
| S2 | 29.21 | -3.04 % | ||
| S3 | 28.68 | -4.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.46 | 7.73 % | |
| R2 | 31.75 | 5.38 % | ||
| R1 | 30.45 | 1.06 % | ||
| Current price | 30.13 | |||
| Support | S1 | 29.10 | -3.42% | |
| S2 | 27.93 | -7.30% | ||
| S3 | 27.69 | -8.10% |
FAQ
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