Optiva Inc. Stock Forecast
A very red day for Optiva Inc. stock price after a -6.11% fall in the Tuesday trading session
(Updated on Jun 25, 2024)
The Optiva Inc. stock price fell by -6.11% on the last day (Tuesday, 25th Jun 2024) from $6.71 to $6.30. During the last trading day the stock fluctuated 0% from a day low at $6.30 to a day high of $6.30. The price has been going up and down for this period, and there has been a -2.17% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -102 shares and in total, 0 shares were bought and sold for approximately $0 .
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.20% during the next 3 months and, with a 90% probability hold a price between $5.19 and $8.55 at the end of this 3-month period.
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OPT.TO Signals & Forecast
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. The Optiva 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 $6.35 and $6.41. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -6.11%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Optiva Inc. stock
Optiva Inc. finds support from accumulated volume at $6.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.0318%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OPT.TO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Optiva Inc. to open at $6.30, and during the day (based on 14 day Average True Range), to move between $5.83 and $6.77, which gives a possible trading interval of +/-$0.475 (+/-7.54%) up or down from last closing price. If Optiva Inc. takes out the full calculated possible swing range there will be an estimated 15.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.50 (3.17%) than the support at $6.10 (3.17%), 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 Optiva Inc. stock A Buy?
The Optiva Inc. stock holds several negative signals and despite the positive trend, we believe Optiva Inc. 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 Hold/Accumulate to a Sell candidate.
Current score: -4.599 Sell Candidate Downgraded
Predicted Opening Price for Optiva Inc. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $6.30 ( 0%) | $6.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OPT.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.30 | - |
| R2 | 6.30 | - |
| R1 | 6.30 | - |
| Price | 6.30 | |
| S1 | 6.30 | - |
| S2 | 6.30 | - |
| S3 | 6.30 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.84 | 24.44% |
| R2 | 7.49 | 18.89% |
| R1 | 6.50 | 3.17% |
| Price | 6.30 | |
| S1 | 6.10 | -3.17% |
| S2 | 6.00 | -4.76% |
| S3 | 5.84 | -7.30% |
FAQ
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