Omeros Corporation Stock Forecast
Omeros Corporation stock downgraded from Sell Candidate to Strong Sell Candidate after Thursday trading session.
(Updated on Apr 18, 2024)
The Omeros Corporation stock price fell by -3.89% on the last day (Thursday, 18th Apr 2024) from $3.34 to $3.21. During the last trading day the stock fluctuated 6.73% from a day low at $3.20 to a day high of $3.41. The price has been going up and down for this period, and there has been a 2.88% gain for the last 2 weeks. Volume has increased on the last day by 155 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 422 thousand shares were bought and sold for approximately $1.35 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.00 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -5.39% during the next 3 months and, with a 90% probability hold a price between $2.84 and $4.45 at the end of this 3-month period.
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OMER Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Omeros Corporation 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 $3.53 and $3.72. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -18.53%. Further fall is indicated until a new bottom pivot has been found. Omeros Corporation gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Omeros Corporation stock
Omeros Corporation finds support from accumulated volume at $3.19 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.215 between high and low, or 6.73%. For the last week, the stock has had daily average volatility of 8.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OMER) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Omeros Corporation to open at $3.27, and during the day (based on 14 day Average True Range), to move between $2.92 and $3.50, which gives a possible trading interval of +/-$0.295 (+/-9.18%) up or down from last closing price. If Omeros Corporation takes out the full calculated possible swing range there will be an estimated 18.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.19 (0.62%) than the resistance at $3.35 (4.36%), 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?
Omeros Corporation holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -6.044 Strong Sell Candidate Downgraded
Predicted Opening Price for Omeros Corporation of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $3.27 ( 1.92%) | $3.21 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 3.49 | 8.62 % | |
| R2 | 3.40 | 6.06 % | ||
| R1 | 3.35 | 4.48 % | ||
| Current price: | 3.21 | |||
| Support | S1 | 3.19 | -0.637 % | |
| S2 | 3.14 | -2.22 % | ||
| S3 | 3.06 | -4.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.59 | 11.84 % | |
| R2 | 3.40 | 5.92 % | ||
| R1 | 3.35 | 4.36 % | ||
| Current price | 3.21 | |||
| Support | S1 | 3.19 | -0.623% | |
| S2 | 3.12 | -2.80% | ||
| S3 | 3.05 | -4.98% |
FAQ
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