Oncolytics Biotech Inc. 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
Oncolytics Biotech Inc. stock price down 0% on Friday
(Updated on May 03, 2024)
No changes to the price of Oncolytics Biotech Inc. stock on the last trading day (Friday, 3rd May 2024). During the last trading day the stock fluctuated 2.59% from a day low at $1.16 to a day high of $1.19. The price has risen in 6 of the last 10 days and is up by 10.38% over the past 2 weeks.
The stock lies in the upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $1.21 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 5.02% during the next 3 months and, with a 90% probability hold a price between $1.00 and $1.27 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ONCY Signals & Forecast
The Oncolytics Biotech Inc. 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 $1.12 and $1.08. A breakdown below any of these levels will issue sell signals. 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, May 02, 2024, and so far it has fallen 0%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".
Support, Risk & Stop-loss for Oncolytics Biotech Inc. stock
Oncolytics Biotech Inc. finds support from accumulated volume at $1.15 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 $0.0300 between high and low, or 2.59%. For the last week the stock has had daily average volatility of 3.90%.
Our recommended stop-loss: $1.13 (-3.56%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (ONCY) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Oncolytics Biotech Inc. to open at $1.17, and during the day (based on 14 day Average True Range), to move between $1.11 and $1.23, which gives a possible trading interval of +/-$0.0571 (+/-4.88%) up or down from last closing price. If Oncolytics Biotech Inc. takes out the full calculated possible swing range there will be an estimated 9.77% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $1.15, some $0.0200 (1.71%) from the current price of $1.17, our system finds the risk reward attractive.
Earnings coming up
Oncolytics Biotech Inc. will release earnings AMC on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0900. We will update the financials statements for Oncolytics Biotech Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.44% in the first trading day after earnings release.
Is Oncolytics Biotech Inc. 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 Oncolytics Biotech Inc. stock to perform well in the short-term.
Current score: 2.001 Buy Candidate Unchanged
Predicted Opening Price for Oncolytics Biotech Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $1.17 ( 0.285%) | $1.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ONCY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.20 | 2.85 % | |
| R2 | 1.19 | 1.87 % | ||
| R1 | 1.18 | 1.26 % | ||
| Current price: | 1.17 | |||
| Support | S1 | 1.16 | -0.695 % | |
| S2 | 1.15 | -1.30 % | ||
| S3 | 1.14 | -2.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1.17 | |||
| Support | S1 | 1.15 | -1.71% | |
| S2 | 1.05 | -10.26% | ||
| S3 | 1.02 | -12.82% |
FAQ
Click here for our free guide on how to buy Oncolytics Biotech Inc. Stock.
