Oxford Nanopore Technologies Limited Stock Forecast
Oxford Nanopore Technologies Limited stock price ended at $1.39 on Monday, after gaining 1.83%.
(Updated on May 20, 2024)
The Oxford Nanopore Technologies Limited stock price gained 1.83% on the last trading day (Monday, 20th May 2024), rising from $1.37 to $1.39. During the last trading day the stock fluctuated 1.83% from a day low at $1.37 to a day high of $1.39. The price has risen in 5 of the last 10 days but is still down by -4.14% for this period. Volume fell on the last day by -139 thousand shares and in total, 70 thousand shares were bought and sold for approximately $97.84 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a very wide and falling 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 $1.44 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -29.00% during the next 3 months and, with a 90% probability hold a price between $0.696 and $1.02 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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ONTTF Signals & Forecast
The Oxford Nanopore Technologies Limited 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 $1.42. On a fall, the stock will find some support from the long-term average at approximately $1.36. 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 Friday, April 19, 2024, and so far it has risen 17.80%. 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 fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Oxford Nanopore Technologies Limited stock
Oxford Nanopore Technologies Limited finds support from accumulated volume at $1.37 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0250 between high and low, or 1.83%. For the last week the stock has had daily average volatility of 1.96%.
Our recommended stop-loss: $1.35 (-3.22%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 49 days ago.)
Trading Expectations (ONTTF) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Oxford Nanopore Technologies Limited to open at $1.38, and during the day (based on 14 day Average True Range), to move between $1.33 and $1.45, which gives a possible trading interval of +/-$0.0595 (+/-4.28%) up or down from last closing price. If Oxford Nanopore Technologies Limited takes out the full calculated possible swing range there will be an estimated 8.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.41 (1.44%) than the support at $1.37 (1.80%), 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 Oxford Nanopore Technologies Limited stock A Buy?
Oxford Nanopore Technologies Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.163 Hold/Accumulate Unchanged
Predicted Opening Price for Oxford Nanopore Technologies Limited of Tuesday, May 21, 2024
Fair opening price May 21, 2024 | Current price |
---|---|
$1.38 ( 0.600%) | $1.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ONTTF
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.41 | 1.20 % | |
R2 | 1.40 | 0.512 % | ||
R1 | 1.39 | 0.0875 % | ||
Current price: | 1.39 | |||
Support | S1 | 1.37 | -1.29 % | |
S2 | 1.37 | -1.71 % | ||
S3 | 1.36 | -2.40 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.47 | 5.65 % | |
R2 | 1.45 | 4.32 % | ||
R1 | 1.41 | 1.44 % | ||
Current price | 1.39 | |||
Support | S1 | 1.37 | -1.80% | |
S2 | 1.32 | -5.03% | ||
S3 | 1.25 | -10.07% |
FAQ
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