Ormat Technologies Inc Stock Forecast
Green day on Tuesday for Ormat Technologies Inc
(Updated on Jul 02, 2024)
The Ormat Technologies Inc stock price gained 0.116% on the last trading day (Tuesday, 2nd Jul 2024), rising from $69.20 to $69.28. During the last trading day the stock fluctuated 1.83% from a day low at $68.69 to a day high of $69.95. The price has been going up and down for this period, and there has been a -5.46% loss 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, 87 thousand more shares were traded than the day before. In total, 496 thousand shares were bought and sold for approximately $34.34 million.
Given the current short-term trend, the stock is expected to rise 18.81% during the next 3 months and, with a 90% probability hold a price between $82.31 and $95.04 at the end of this 3-month period.
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ORA Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ormat Technologies 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 $71.92 and $73.25. 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 03, 2024, and so far it has fallen -8.73%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Monday, April 29, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Monday, April 29, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Ormat Technologies Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $64.30 and $62.11. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Ormat Technologies Inc finds support just below today's level at $64.30. If this is broken, then the next support from accumulated volume will be at $62.11 and $60.97.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.26 (1.83%) between high and low. For the last week, the stock has had daily average volatility of 3.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ORA) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Ormat Technologies Inc to open at $69.31, and during the day (based on 14 day Average True Range), to move between $67.42 and $71.14, which gives a possible trading interval of +/-$1.86 (+/-2.68%) up or down from last closing price. If Ormat Technologies Inc takes out the full calculated possible swing range there will be an estimated 5.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $73.14 (5.57%) than the support at $64.30 (7.19%), 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 Ormat Technologies Inc stock A Buy?
The Ormat Technologies Inc stock holds several negative signals and despite the positive trend, we believe Ormat Technologies Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.568 Sell Candidate Unchanged
Predicted Opening Price for Ormat Technologies Inc of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$69.31 ( 0.0385%) | $69.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ORA
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 70.57 | 1.86% |
R2 | 70.09 | 1.16% |
R1 | 69.79 | 0.733% |
Price | 69.28 | |
S1 | 68.83 | -0.656% |
S2 | 68.53 | -1.09% |
S3 | 68.05 | -1.78% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 75.44 | 8.89% |
R2 | 73.20 | 5.66% |
R1 | 73.14 | 5.57% |
Price | 69.28 | |
S1 | 64.30 | -7.19% |
S2 | 62.11 | -10.35% |
S3 | 60.97 | -11.99% |
ORA Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 21, 2024 | May 21, 2024 | Jun 05, 2024 | $0.120 | 0.159% |
2 | Feb 21, 2024 | Mar 05, 2024 | Mar 20, 2024 | $0.120 | 0.182% |
3 | Nov 08, 2023 | Nov 21, 2023 | Dec 06, 2023 | $0.120 | 0.172% |
4 | Aug 02, 2023 | Aug 15, 2023 | Aug 30, 2023 | $0.120 | 0.159% |
5 | May 09, 2023 | May 22, 2023 | Jun 06, 2023 | $0.120 | 0.138% |
FAQ
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