Origin Materials, Inc. Stock Forecast

Volatile ride for Origin Materials, Inc. stock price on Tuesday moving between $0.664 and $0.770
(Updated on Apr 23, 2024)

ORGN Signals & Forecast

The Origin Materials, Inc. 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 $0.635 and $0.579. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 27.27%. Further rise is indicated until a new top pivot has been found. Origin Materials, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Origin Materials, Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.650 and $0.604. 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, Origin Materials, Inc. finds support just below today's level at $0.650. If this is broken, then the next support from accumulated volume will be at $0.604 and $0.602.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.106 between high and low, or 16.00%. For the last week, the stock has had daily average volatility of 15.03%.

Our recommended stop-loss: $0.700 (-3.80%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 4 days ago.)

Trading Expectations (ORGN) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect Origin Materials, Inc. to open at $0.720, and during the day (based on 14 day Average True Range), to move between $0.649 and $0.81, which gives a possible trading interval of +/-$0.0779 (+/-10.71%) up or down from last closing price. If Origin Materials, Inc. takes out the full calculated possible swing range there will be an estimated 21.42% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.772 (6.12%) than the support at $0.650 (10.67%), 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 Origin Materials, Inc. stock A Buy?

Origin Materials, Inc. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Current score: 6.518 Strong Buy Candidate Unchanged

Predicted Opening Price for Origin Materials, Inc. of Wednesday, April 24, 2024

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