Orion Office REIT Inc. Stock Forecast
Orion Office REIT Inc. stock price up 3.21% on Wednesday
(Updated on May 01, 2024)
The Orion Office REIT Inc. stock price gained 3.21% on the last trading day (Wednesday, 1st May 2024), rising from $3.12 to $3.22. During the last trading day the stock fluctuated 6.61% from a day low at $3.10 to a day high of $3.31. The price has risen in 6 of the last 10 days and is up by 4.55% 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, 97 thousand more shares were traded than the day before. In total, 579 thousand shares were bought and sold for approximately $1.86 million.
The stock lies in the middle of a very 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 -34.78% during the next 3 months and, with a 90% probability hold a price between $1.77 and $2.26 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ONL Signals & Forecast
There are mixed signals in the stock today. The Orion Office REIT Inc. 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 $3.25 and $3.30. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.57%. 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 Orion Office REIT Inc. stock
Orion Office REIT Inc. finds support from accumulated volume at $3.16 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.205 between high and low, or 6.61%. For the last week, the stock has had daily average volatility of 3.73%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ONL) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Orion Office REIT Inc. to open at $3.21, and during the day (based on 14 day Average True Range), to move between $3.08 and $3.36, which gives a possible trading interval of +/-$0.142 (+/-4.42%) up or down from last closing price. If Orion Office REIT Inc. takes out the full calculated possible swing range there will be an estimated 8.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.27 (1.55%) than the support at $3.16 (1.86%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Orion Office REIT Inc. stock A Buy?
Orion Office REIT Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.170 Sell Candidate Unchanged
Predicted Opening Price for Orion Office REIT Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $3.21 ( 0.362%) | $3.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ONL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.41 | 6.00 % | |
| R2 | 3.34 | 3.57 % | ||
| R1 | 3.29 | 2.07 % | ||
| Current price: | 3.22 | |||
| Support | S1 | 3.13 | -2.79 % | |
| S2 | 3.08 | -4.30 % | ||
| S3 | 3.00 | -6.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.68 | 14.29 % | |
| R2 | 3.34 | 3.73 % | ||
| R1 | 3.27 | 1.55 % | ||
| Current price | 3.22 | |||
| Support | S1 | 3.16 | -1.86% | |
| S2 | 3.08 | -4.35% | ||
| S3 | 3.06 | -4.97% |
ONL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.100 | 3.25% |
| 2 | Nov 09, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.100 | 1.92% |
| 3 | Aug 08, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.100 | 2.00% |
| 4 | May 08, 2023 | Jun 29, 2023 | Jul 17, 2023 | $0.100 | 1.52% |
| 5 | Mar 07, 2023 | Mar 30, 2023 | Apr 17, 2023 | $0.100 | 1.52% |
FAQ
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