RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of OPTT
Powered by GPT-4
Upgraded!
Stock Analysis
Risk Assessment
Trading Strategy

Red day on Thursday for Ocean Power Technologies
(Updated on Mar 28, 2024)

Sell candidate since Mar 20, 2024 Loss -7.34% PDF

The Ocean Power Technologies stock price fell by -1.12% on the last day (Thursday, 28th Mar 2024) from $0.268 to $0.265. During the last trading day the stock fluctuated 2.64% from a day low at $0.265 to a day high of $0.272. The price has fallen in 6 of the last 10 days and is down by -7.99% for this period. 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 -119 thousand shares and in total, 406 thousand shares were bought and sold for approximately $107.61 thousand.

The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.249 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -8.11% during the next 3 months and, with a 90% probability hold a price between $0.229 and $0.313 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.

OPTT Signals & Forecast

There are mixed signals in the stock today. The Ocean Power Technologies 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 $0.271 and $0.298. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Monday, March 25, 2024, and so far it has risen 3.07%. 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).

Support, Risk & Stop-loss for Ocean Power Technologies stock

Ocean Power Technologies finds support from accumulated volume at $0.257 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0070 between high and low, or 2.64%. For the last week the stock has had daily average volatility of 5.83%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (OPTT) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Ocean Power Technologies to open at $0.267, and during the day (based on 14 day Average True Range), to move between $0.244 and $0.286, which gives a possible trading interval of +/-$0.0207 (+/-7.81%) up or down from last closing price. If Ocean Power Technologies takes out the full calculated possible swing range there will be an estimated 15.62% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.257 (2.98%) than the resistance at $0.286 (7.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Ocean Power Technologies stock A Buy?

Ocean Power Technologies holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -4.745 Sell Candidate Unchanged

Predicted Opening Price for Ocean Power Technologies of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$0.267 ( 0.88%) $0.265

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for OPTT

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 0.274 3.52 %
R2 0.272 2.51 %
R1 0.270 1.89 %
Current price: 0.265
Support S1 0.265 -0.129 %
S2 0.263 -0.752 %
S3 0.260 -1.76 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0.315 18.87 %
R2 0.288 8.68 %
R1 0.286 7.92 %
Current price 0.265
Support S1 0.257 -2.98%
S2 0 .
S3 0 .

FAQ

What is the symbol for Ocean Power Technologies Stock and on which exchange is it traded?
The symbol for Ocean Power Technologies is OPTT and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Ocean Power Technologies Stock?
Ocean Power Technologies holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

How to buy Ocean Power Technologies Stock?
Ocean Power Technologies Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Ocean Power Technologies Stock.

What's the current price of Ocean Power Technologies Stock?
As of the end of day on the 2024-03-28, the price of an Ocean Power Technologies (OPTT) share was $0.265.

What is the 52-week high and low for Ocean Power Technologies Stock?
The 52-week high for Ocean Power Technologies Stock is $0.769 and the 52-week low is $0.249.

What is the market capitalization of Ocean Power Technologies Stock?
As of the 2024-03-28, the market capitalization of Ocean Power Technologies is 15.936M.

When is the next earnings date for Ocean Power Technologies?
The upcoming earnings date for Ocean Power Technologies is Jul 10, 2024.
Click to get the best stock tips daily for free!

About Ocean Power Technologies

Ocean Power Technologies Ocean Power Technologies, Inc. develops and commercializes proprietary systems that generate electricity by harnessing the renewable energy of ocean waves in North America, South America, Europe, and Asia. It offers PB3 PowerBuoy system that generates power for use independent of the power grid in offshore locations. The company also provides hybrid PowerBuoy products; subsea battery systems; and software, controls, sensors, integration services,... OPTT Profile

Top Fintech Company

StockInvest.us featured in The Global Fintech Index 2020 as the top Fintech company of the country.

Full report by FINDEXABLE

ROCKIT