Organovo Holdings, Inc Stock Forecast
Stronger technical forecast for Organovo Holdings, Inc stock price after Thursday trading.
(Updated on May 02, 2024)
The Organovo Holdings, Inc stock price gained 2.07% on the last trading day (Thursday, 2nd May 2024), rising from $0.93 to $0.95. During the last trading day the stock fluctuated 3.23% from a day low at $0.93 to a day high of $0.96. The price has fallen in 5 of the last 10 days and is down by -17.36% for this period. Volume fell on the last day by -293 thousand shares and in total, 88 thousand shares were bought and sold for approximately $83.75 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 in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.93 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 3.42% during the next 3 months and, with a 90% probability hold a price between $0.96 and $1.41 at the end of this 3-month period.
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ONVO Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 2.07%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Organovo Holdings, 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 $1.00 and $1.05. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Organovo Holdings, Inc stock
Organovo Holdings, Inc finds support from accumulated volume at $0.93 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 $0.0300 between high and low, or 3.23%. For the last week the stock has had daily average volatility of 5.97%.
Our recommended stop-loss: $0.91 (-4.77%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (ONVO) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Organovo Holdings, Inc to open at $0.95, and during the day (based on 14 day Average True Range), to move between $0.86 and $1.04, which gives a possible trading interval of +/-$0.0920 (+/-9.68%) up or down from last closing price. If Organovo Holdings, Inc takes out the full calculated possible swing range there will be an estimated 19.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.93 (2.03%) than the resistance at $1.03 (8.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Organovo Holdings, Inc stock A Buy?
Organovo Holdings, Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.749 Hold/Accumulate Upgraded
Predicted Opening Price for Organovo Holdings, Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.95 ( 0.379%) | $0.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ONVO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.98 | 2.78 % | |
| R2 | 0.97 | 1.57 % | ||
| R1 | 0.96 | 0.83 % | ||
| Current price: | 0.95 | |||
| Support | S1 | 0.94 | -1.58 % | |
| S2 | 0.93 | -2.33 % | ||
| S3 | 0.92 | -3.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.15 | 21.00 % | |
| R2 | 1.12 | 17.85 % | ||
| R1 | 1.03 | 8.38 % | ||
| Current price | 0.95 | |||
| Support | S1 | 0.93 | -2.03% | |
| S2 | 0.90 | -5.30% | ||
| S3 | 0 | . |
FAQ
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