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AI Analysis of ORMP
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Oramed Pharmaceuticals Inc. stock price down 3.52% on Thursday
(Updated on Feb 29, 2024)

Buy or Hold candidate since Jan 29, 2024 Gain 27.52% PDF
The Oramed Pharmaceuticals Inc. stock price fell by -3.52% on the last day (Thursday, 29th Feb 2024) from $3.41 to $3.29. During the last trading day the stock fluctuated 8.41% from a day low at $3.21 to a day high of $3.48. The price has risen in 7 of the last 10 days and is up by 5.11% 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 -47 thousand shares and in total, 200 thousand shares were bought and sold for approximately $658.27 thousand.

The stock lies in the middle of a very wide and strong 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 53.43% during the next 3 months and, with a 90% probability hold a price between $4.24 and $5.56 at the end of this 3-month period.

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ORMP Signals & Forecast

The Oramed Pharmaceuticals Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $3.40. On a fall, the stock will find some support from the long-term average at approximately $2.79. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Tuesday, February 27, 2024, and so far it has fallen -8.10%. 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.

Support, Risk & Stop-loss for Oramed Pharmaceuticals Inc. stock

Oramed Pharmaceuticals Inc. finds support from accumulated volume at $3.14 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.270 between high and low, or 8.41%. For the last week the stock has had daily average volatility of 6.35%.

Our recommended stop-loss: $3.11 (-5.58%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (ORMP) For The Upcoming Trading Day Of Friday 1st

For the upcoming trading day on Friday, 1st we expect Oramed Pharmaceuticals Inc. to open at $3.33, and during the day (based on 14 day Average True Range), to move between $3.10 and $3.48, which gives a possible trading interval of +/-$0.191 (+/-5.81%) up or down from last closing price. If Oramed Pharmaceuticals Inc. takes out the full calculated possible swing range there will be an estimated 11.63% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $3.30 (0.30%) than the support at $3.14 (4.56%), 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 Oramed Pharmaceuticals Inc. stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Oramed Pharmaceuticals Inc. stock to perform well in the short-term.

Current score: 1.438 Buy Candidate Unchanged

Predicted Opening Price for Oramed Pharmaceuticals Inc. of Friday, March 1, 2024

Fair opening price March 1, 2024 Current price
$3.33 ( 1.11%) $3.29

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

News Digest

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 3.60 9.32 %
R2 3.49 6.19 %
R1 3.43 4.25 %
Current price: 3.29
Support S1 3.22 -2.02 %
S2 3.16 -3.96 %
S3 3.06 -7.09 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 3.46 5.17 %
R2 3.41 3.65 %
R1 3.30 0.304 %
Current price 3.29
Support S1 3.14 -4.56%
S2 3.00 -8.97%
S3 2.98 -9.42%

FAQ

What is the symbol for Oramed Pharmaceuticals Inc. Stock and on which exchange is it traded?
The symbol for Oramed Pharmaceuticals Inc. is ORMP and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Oramed Pharmaceuticals Inc. Stock?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Oramed Pharmaceuticals Inc. stock to perform well in the short-term.

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

What's the current price of Oramed Pharmaceuticals Inc. Stock?
As of the end of day on the 2024-02-29, the price of an Oramed Pharmaceuticals Inc. (ORMP) share was $3.29.

What is the 52-week high and low for Oramed Pharmaceuticals Inc. Stock?
The 52-week high for Oramed Pharmaceuticals Inc. Stock is $5.25 and the 52-week low is $1.68.

What is the market capitalization of Oramed Pharmaceuticals Inc. Stock?
As of the 2024-02-29, the market capitalization of Oramed Pharmaceuticals Inc. is 137.556M.

When is the next earnings date for Oramed Pharmaceuticals Inc.?
The upcoming earnings date for Oramed Pharmaceuticals Inc. is Mar 04, 2024.

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About Oramed Pharmaceuticals Inc.

Oramed Pharmaceuticals. Oramed Pharmaceuticals Inc. engages in the research and development of pharmaceutical solutions for the treatment of diabetes and for the use of orally ingestible capsules or pills for delivery of polypeptides. Its proprietary flagship product is the ORMD-0801, an orally ingestible insulin capsule, which completed phase II clinical trials for the treatment of individuals with diabetes. It is also developing ORMD-0901, an oral glucagon-like peptid... ORMP Profile

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