Office Properties Income Trust Stock Forecast
Office Properties Income Trust stock upgraded from Hold/Accumulate to Buy Candidate after Monday trading session.
(Updated on Apr 29, 2024)
The Office Properties Income Trust stock price gained 3.98% on the last trading day (Monday, 29th Apr 2024), rising from $2.01 to $2.09. During the last trading day the stock fluctuated 7.77% from a day low at $2.00 to a day high of $2.15. The price has been going up and down for this period, and there has been a 8.85% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 548 thousand more shares were traded than the day before. In total, 899 thousand shares were bought and sold for approximately $1.88 million.
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 $2.23 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 -49.61% during the next 3 months and, with a 90% probability hold a price between $0.647 and $1.12 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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OPI Signals & Forecast
Mostly positive signals in the chart today. The Office Properties Income Trust stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $2.00 and $2.00. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 12.97%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Office Properties Income Trust stock
Office Properties Income Trust finds support from accumulated volume at $2.03 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 $0.155 between high and low, or 7.77%. For the last week, the stock has had daily average volatility of 5.82%.
Our recommended stop-loss: $1.99 (-4.98%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (OPI) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Office Properties Income Trust to open at $2.08, and during the day (based on 14 day Average True Range), to move between $1.95 and $2.23, which gives a possible trading interval of +/-$0.140 (+/-6.68%) up or down from last closing price. If Office Properties Income Trust takes out the full calculated possible swing range there will be an estimated 13.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.13 (1.91%) than the support at $2.03 (2.87%), 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.
Earnings coming up
Office Properties Income Trust will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.81. We will update the financials statements for Office Properties Income Trust, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.76% in the first trading day after earnings release.
Is Office Properties Income Trust 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.491 Buy Candidate Upgraded
Predicted Opening Price for Office Properties Income Trust of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $2.08 ( 0.558%) | $2.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OPI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.23 | 6.86 % | |
| R2 | 2.17 | 4.03 % | ||
| R1 | 2.14 | 2.27 % | ||
| Current price: | 2.09 | |||
| Support | S1 | 2.02 | -3.39 % | |
| S2 | 1.98 | -5.14 % | ||
| S3 | 1.92 | -7.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.47 | 18.18 % | |
| R2 | 2.38 | 13.88 % | ||
| R1 | 2.13 | 1.91 % | ||
| Current price | 2.09 | |||
| Support | S1 | 2.03 | -2.87% | |
| S2 | 1.97 | -5.74% | ||
| S3 | 1.96 | -6.22% |
OPI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 19, 2024 | May 16, 2024 | $0.0100 | 0.478% |
| 2 | Jan 11, 2024 | Jan 19, 2024 | Feb 15, 2024 | $0.0100 | 0.250% |
| 3 | Oct 12, 2023 | Oct 20, 2023 | Nov 16, 2023 | $0.250 | 4.70% |
| 4 | Jul 13, 2023 | Jul 21, 2023 | Aug 17, 2023 | $0.250 | 3.55% |
| 5 | Apr 13, 2023 | Apr 21, 2023 | May 18, 2023 | $0.250 | 3.79% |
FAQ
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