On Holding AG Stock Forecast
On Holding AG stock price down 2.13% on Tuesday
(Updated on Jul 02, 2024)
The On Holding AG stock price fell by -2.13% on the last day (Tuesday, 2nd Jul 2024) from $38.03 to $37.22. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.30% from a day low at $36.73 to a day high of $38.31. The price has fallen in 8 of the last 10 days and is down by -10.59% for this period. Volume has increased on the last day by 855 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, 4 million shares were bought and sold for approximately $165.76 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $37.05 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 33.97% during the next 3 months and, with a 90% probability hold a price between $49.63 and $62.23 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.
ONON Signals & Forecast
There are few to no technical positive signals at the moment. The On Holding AG 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 $38.50 and $39.95. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 11, 2024, and so far it has fallen -15.00%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for On Holding AG stock
On Holding AG finds support from accumulated volume at $36.42 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 $1.58 between high and low, or 4.30%. For the last week, the stock has had daily average volatility of 3.97%.
On Holding AG is oversold on RSI14 (12). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ONON) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect On Holding AG to open at $37.42, and during the day (based on 14 day Average True Range), to move between $35.57 and $38.87, which gives a possible trading interval of +/-$1.65 (+/-4.44%) up or down from last closing price. If On Holding AG takes out the full calculated possible swing range there will be an estimated 8.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $36.42 (2.15%) than the resistance at $39.03 (4.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is On Holding AG stock A Buy?
The On Holding AG stock holds several negative signals and despite the positive trend, we believe On Holding AG will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.079 Sell Candidate Unchanged
Predicted Opening Price for On Holding AG of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $37.42 ( 0.537%) | $37.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ONON
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 39.00 | 4.78% |
| R2 | 38.40 | 3.16% |
| R1 | 38.02 | 2.16% |
| Price | 37.22 | |
| S1 | 36.82 | -1.08% |
| S2 | 36.44 | -2.09% |
| S3 | 35.84 | -3.71% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 41.82 | 12.36% |
| R2 | 39.72 | 6.72% |
| R1 | 39.03 | 4.86% |
| Price | 37.22 | |
| S1 | 36.42 | -2.15% |
| S2 | 36.30 | -2.47% |
| S3 | 30.40 | -18.32% |
FAQ
Click here for our free guide on how to buy On Holding AG Stock.
