Orion Office REIT Inc. Stock Forecast
Red day on Friday for Orion Office REIT Inc.
(Updated on May 17, 2024)
The Orion Office REIT Inc. stock price fell by -1.61% on the last day (Friday, 17th May 2024) from $3.72 to $3.66. During the last trading day the stock fluctuated 3.19% from a day low at $3.61 to a day high of $3.72. The price has been going up and down for this period, and there has been a 6.09% gain for the last 2 weeks. Volume has increased on the last day by 14 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, 475 thousand shares were bought and sold for approximately $1.74 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 -12.28% during the next 3 months and, with a 90% probability hold a price between $2.49 and $3.62 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
The Orion Office REIT Inc. 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 $3.67. On a fall, the stock will find some support from the long-term average at approximately $3.34. 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. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 20.00%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Orion Office REIT Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.40 and $3.27. 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, Orion Office REIT Inc. finds support just below today's level at $3.40. If this is broken, then the next support from accumulated volume will be at $3.27 and $3.16.
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 $0.115 between high and low, or 3.19%. For the last week, the stock has had daily average volatility of 3.48%.
Our recommended stop-loss: $3.53 (-3.48%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (ONL) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Orion Office REIT Inc. to open at $3.66, and during the day (based on 14 day Average True Range), to move between $3.51 and $3.81, which gives a possible trading interval of +/-$0.154 (+/-4.20%) 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 8.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.68 (0.55%) than the support at $3.40 (7.10%), 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?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.647 Buy Candidate Unchanged
Predicted Opening Price for Orion Office REIT Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $3.66 ( 0.0455%) | $3.66 |
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 | 3.78 | 3.19 % | |
| R2 | 3.73 | 1.99 % | ||
| R1 | 3.71 | 1.25 % | ||
| Current price: | 3.66 | |||
| Support | S1 | 3.62 | -1.15 % | |
| S2 | 3.59 | -1.90 % | ||
| S3 | 3.55 | -3.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.73 | 1.91 % | |
| R2 | 3.72 | 1.64 % | ||
| R1 | 3.68 | 0.546 % | ||
| Current price | 3.66 | |||
| Support | S1 | 3.40 | -7.10% | |
| S2 | 3.27 | -10.66% | ||
| S3 | 3.16 | -13.66% |
ONL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 07, 2024 | Jun 28, 2024 | Jul 15, 2024 | $0.100 | 2.73% |
| 2 | Mar 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.100 | 3.25% |
| 3 | Nov 09, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.100 | 1.92% |
| 4 | Aug 08, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.100 | 2.00% |
| 5 | May 08, 2023 | Jun 29, 2023 | Jul 17, 2023 | $0.100 | 1.52% |
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