Omnicell Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
High volatility in Omnicell stock price on Thursday which ended trading at $29.29
(Updated on May 02, 2024)
The Omnicell stock price gained 7.80% on the last trading day (Thursday, 2nd May 2024), rising from $27.17 to $29.29. During the last trading day the stock fluctuated 10.21% from a day low at $26.89 to a day high of $29.64. The price has risen in 6 of the last 10 days and is up by 7.49% 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, 156 thousand more shares were traded than the day before. In total, 605 thousand shares were bought and sold for approximately $17.72 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 -3.66% during the next 3 months and, with a 90% probability hold a price between $24.35 and $30.16 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, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $27.58 and $27.76. 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 12.01%. 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 is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.75 (10.21%) between high and low. For the last week, the stock has had daily average volatility of 5.06%.
Our recommended stop-loss: $28.19 (-3.76%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 45 days ago.)
Trading Expectations (OMCL) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Omnicell to open at $28.61, and during the day (based on 14 day Average True Range), to move between $28.14 and $30.44, which gives a possible trading interval of +/-$1.15 (+/-3.94%) up or down from last closing price. If Omnicell takes out the full calculated possible swing range there will be an estimated 7.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $29.10 (0.65%) than the resistance at $30.45 (3.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.592 Buy Candidate Upgraded
Predicted Opening Price for Omnicell of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $28.61 ( 2.34%) | $29.29 |
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 | 31.35 | 7.03 % | |
| R2 | 30.30 | 3.45 % | ||
| R1 | 29.65 | 1.24 % | ||
| Current price: | 29.29 | |||
| Support | S1 | 27.56 | -5.92 % | |
| S2 | 26.91 | -8.13 % | ||
| S3 | 25.86 | -11.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.46 | 10.82 % | |
| R2 | 31.75 | 8.40 % | ||
| R1 | 30.45 | 3.96 % | ||
| Current price | 29.29 | |||
| Support | S1 | 29.10 | -0.649% | |
| S2 | 27.93 | -4.64% | ||
| S3 | 27.69 | -5.46% |
FAQ
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