Omeros Corporation Stock Forecast
Red day on Tuesday for Omeros Corporation stock after losing 2.53%
(Updated on Jul 02, 2024)
The Omeros Corporation stock price fell by -2.53% on the last day (Tuesday, 2nd Jul 2024) from $3.95 to $3.85. During the last trading day the stock fluctuated 2.99% from a day low at $3.85 to a day high of $3.96. The price has been going up and down for this period, and there has been a -4.7% loss for the last 2 weeks. 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 -69 thousand shares and in total, 127 thousand shares were bought and sold for approximately $487.21 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 19.61% during the next 3 months and, with a 90% probability hold a price between $4.32 and $5.53 at the end of this 3-month period.
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OMER Signals & Forecast
The Omeros Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $3.94. On a fall, the stock will find some support from the long-term average at approximately $3.77. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell 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 Thursday, June 13, 2024, and so far it has fallen -8.98%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Omeros Corporation stock
Omeros Corporation finds support from accumulated volume at $3.77 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.115 between high and low, or 2.99%. For the last week the stock has had daily average volatility of 4.25%.
Our recommended stop-loss: $3.66 (-5.06%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 26 days ago.)
Trading Expectations (OMER) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Omeros Corporation to open at $3.89, and during the day (based on 14 day Average True Range), to move between $3.62 and $4.08, which gives a possible trading interval of +/-$0.231 (+/-6.00%) up or down from last closing price. If Omeros Corporation takes out the full calculated possible swing range there will be an estimated 12.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.77 (2.08%) than the resistance at $3.94 (2.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Omeros Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Omeros Corporation stock to perform well in the short-term.
Current score: 2.426 Buy Candidate Unchanged
Predicted Opening Price for Omeros Corporation of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $3.89 ( 0.91%) | $3.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OMER
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.00 | 3.90% |
| R2 | 3.96 | 2.76% |
| R1 | 3.93 | 2.05% |
| Price | 3.85 | |
| S1 | 3.84 | -0.232% |
| S2 | 3.81 | -0.94% |
| S3 | 3.77 | -2.08% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.23 | 9.87% |
| R2 | 4.06 | 5.45% |
| R1 | 3.94 | 2.34% |
| Price | 3.85 | |
| S1 | 3.77 | -2.08% |
| S2 | 3.43 | -10.91% |
| S3 | 3.31 | -14.03% |
FAQ
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