OM Holdings Limited Stock Forecast
OM Holdings Limited stock upgraded to Strong Buy Candidate.
(Updated on May 03, 2024)
The OM Holdings Limited stock price gained 4.00% on the last trading day (Friday, 3rd May 2024), rising from $0.500 to $0.520. During the last trading day the stock fluctuated 5.05% from a day low at $0.495 to a day high of $0.520. The price has risen in 5 of the last 10 days and is up by 11.83% 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, 145 thousand more shares were traded than the day before. In total, 214 thousand shares were bought and sold for approximately $111.08 thousand.
Given the current short-term trend, the stock is expected to rise 5.49% during the next 3 months and, with a 90% probability hold a price between $0.441 and $0.549 at the end of this 3-month period.
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OMH.AX Signals & Forecast
The OM Holdings Limited 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 $0.489 and $0.450. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 05, 2024, and so far it has risen 30.00%. Further rise is indicated until a new top pivot has been found. OM Holdings Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for OM Holdings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.435 and $0.430. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, OM Holdings Limited finds support just below today's level at $0.435. If this is broken, then the next support from accumulated volume will be at $0.430 and $0.425.
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 $0.0250 between high and low, or 5.05%. For the last week, the stock has had daily average volatility of 4.32%.
Our recommended stop-loss: $0.501 (-3.64%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 40 days ago.)
Trading Expectations (OMH.AX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect OM Holdings Limited to open at $0.512, and during the day (based on 14 day Average True Range), to move between $0.503 and $0.537, which gives a possible trading interval of +/-$0.0166 (+/-3.19%) up or down from last closing price. If OM Holdings Limited takes out the full calculated possible swing range there will be an estimated 6.37% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.435, some $0.0850 (16.35%) from the current price of $0.520, our system finds the risk reward attractive.
Is OM Holdings Limited stock A Buy?
OM Holdings Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.742 Strong Buy Candidate Upgraded
Predicted Opening Price for OM Holdings Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.512 ( 1.60%) | $0.520 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OMH.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.537 | 3.21 % | |
| R2 | 0.527 | 1.37 % | ||
| R1 | 0.521 | 0.234 % | ||
| Current price: | 0.520 | |||
| Support | S1 | 0.502 | -3.44 % | |
| S2 | 0.496 | -4.57 % | ||
| S3 | 0.487 | -6.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.520 | |||
| Support | S1 | 0.435 | -16.35% | |
| S2 | 0.430 | -17.31% | ||
| S3 | 0.425 | -18.27% |
OMH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 04, 2023 | May 04, 2023 | May 04, 2023 | $0.0150 | 2.26% |
| 2 | Apr 07, 2022 | Apr 07, 2022 | Apr 07, 2022 | $0.0200 | 2.21% |
| 3 | Feb 28, 2020 | May 07, 2020 | May 29, 2020 | $0.0050 | 1.25% |
| 4 | Aug 27, 2019 | Nov 07, 2019 | Nov 29, 2019 | $0.0100 | 2.00% |
| 5 | Feb 25, 2019 | May 02, 2019 | May 31, 2019 | $0.0200 | 2.56% |
FAQ
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