Onemednet Corporation Stock Forecast

Onemednet Corporation stock price fell more than -33.96% Tuesday closing at $0.0315
(Updated on Jul 02, 2024)

ONMDW Signals & Forecast

There are few to no technical positive signals at the moment. The Onemednet 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 $0.0394 and $0.0405. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 30, 2024, and so far it has fallen -52.13%. 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). Onemednet 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". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Onemednet Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0248 and $0.0246. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0246 may give a huge drop in the stock price.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0001 between high and low, or 0.317%. For the last week, the stock has had daily average volatility of 46.08%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ONMDW) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Onemednet Corporation to open at $0.0315, and during the day (based on 14 day Average True Range), to move between $0.0152 and $0.0478, which gives a possible trading interval of +/-$0.0163 (+/-51.62%) up or down from last closing price. If Onemednet Corporation takes out the full calculated possible swing range there will be an estimated 103.23% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0325 (3.17%) than the support at $0.0248 (21.27%), 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 Onemednet Corporation stock A Buy?

The Onemednet Corporation stock holds several negative signals and despite the positive trend, we believe Onemednet Corporation will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.

Current score: -4.250 Sell Candidate Downgraded

Predicted Opening Price for Onemednet Corporation of Wednesday, July 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.