Orbit Technologies Ltd Stock Forecast
Red day on Thursday for Orbit Technologies Ltd stock after losing 0.92%
(Updated on May 16, 2024)
The Orbit Technologies Ltd stock price fell by -0.92% on the last day (Thursday, 16th May 2024) from ₪2,729.00 to ₪2,704.00. During the last trading day the stock fluctuated 2.38% from a day low at ₪2,686.00 to a day high of ₪2,750.00. The price has risen in 5 of the last 10 days and is up by 2.39% over the past 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 -292 shares and in total, 14 thousand shares were bought and sold for approximately ₪37.20 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Orbit Technologies Ltd stock with a 90% probability to be traded between ₪2,439.17 and ₪2,743.13 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ORBI.TA Signals & Forecast
The Orbit Technologies Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₪2,698.00 and ₪2,651.94. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 11, 2024, and so far it has risen 6.29%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Orbit Technologies Ltd stock
Orbit Technologies Ltd finds support from accumulated volume at ₪2,634.00 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₪64.00 between high and low, or 2.38%. For the last week the stock has had daily average volatility of 1.63%.
Our recommended stop-loss: ₪2,557.37 (-5.42%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (ORBI.TA) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Orbit Technologies Ltd to open at ₪2,713.33, and during the day (based on 14 day Average True Range), to move between ₪2,651.49 and ₪2,756.51, which gives a possible trading interval of +/-₪52.51 (+/-1.94%) up or down from last closing price. If Orbit Technologies Ltd takes out the full calculated possible swing range there will be an estimated 3.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₪2,634.00 (2.59%) than the resistance at ₪2,779.00 (2.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Orbit Technologies Ltd stock A Buy?
Orbit Technologies Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.538 Hold/Accumulate Unchanged
Predicted Opening Price for Orbit Technologies Ltd of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| ₪2,713.33 ( 0.345%) | ₪2,704.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ORBI.TA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,777.33 | 2.71 % | |
| R2 | 2,752.89 | 1.81 % | ||
| R1 | 2,737.78 | 1.25 % | ||
| Current price: | 2,704.00 | |||
| Support | S1 | 2,688.89 | -0.559 % | |
| S2 | 2,673.78 | -1.12 % | ||
| S3 | 2,649.33 | -2.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,873.00 | 6.25 % | |
| R2 | 2,789.00 | 3.14 % | ||
| R1 | 2,779.00 | 2.77 % | ||
| Current price | 2,704.00 | |||
| Support | S1 | 2,634.00 | -2.59% | |
| S2 | 2,620.00 | -3.11% | ||
| S3 | 2,580.00 | -4.59% |
ORBI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 16, 2012 | Oct 16, 2012 | Oct 16, 2012 | ₪4.00 | 0.673% |
| 2 | Apr 17, 2012 | Apr 17, 2012 | Apr 17, 2012 | ₪5.51 | 0.463% |
| 3 | Sep 12, 2011 | Sep 12, 2011 | Sep 12, 2011 | ₪3.85 | 0.244% |
| 4 | Apr 11, 2011 | Apr 11, 2011 | Apr 11, 2011 | ₪9.13 | 0.360% |
| 5 | Sep 07, 2010 | Sep 07, 2010 | Sep 07, 2010 | ₪6.11 | 0.269% |
FAQ
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