Orion Marine Group Inc Stock Forecast
Red day on Friday for Orion Marine Group Inc stock after losing 1.45%
(Updated on May 03, 2024)
The Orion Marine Group Inc stock price fell by -1.45% on the last day (Friday, 3rd May 2024) from $7.59 to $7.48. During the last trading day the stock fluctuated 4.44% from a day low at $7.44 to a day high of $7.77. The price has risen in 6 of the last 10 days but is still down by -5.32% 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 -98 thousand shares and in total, 164 thousand shares were bought and sold for approximately $1.22 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $7.05 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 25.76% during the next 3 months and, with a 90% probability hold a price between $8.86 and $13.01 at the end of this 3-month period.
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ORN Signals & Forecast
There are mixed signals in the stock today. The Orion Marine Group Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $8.18. On a fall, the stock will find some support from the short-term average at $7.32. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -20.34%. 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). 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 Orion Marine Group Inc stock
Orion Marine Group Inc finds support from accumulated volume at $7.34 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 $0.330 between high and low, or 4.44%. For the last week the stock has had daily average volatility of 6.60%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ORN) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Orion Marine Group Inc to open at $7.56, and during the day (based on 14 day Average True Range), to move between $6.95 and $8.01, which gives a possible trading interval of +/-$0.533 (+/-7.12%) up or down from last closing price. If Orion Marine Group Inc takes out the full calculated possible swing range there will be an estimated 14.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.34 (1.87%) than the resistance at $8.20 (9.63%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Orion Marine Group Inc stock A Buy?
Orion Marine Group Inc 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: -2.325 Sell Candidate Unchanged
Predicted Opening Price for Orion Marine Group Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $7.56 ( 1.11%) | $7.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ORN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.89 | 5.53 % | |
| R2 | 7.77 | 3.84 % | ||
| R1 | 7.69 | 2.80 % | ||
| Current price: | 7.48 | |||
| Support | S1 | 7.44 | -0.571 % | |
| S2 | 7.36 | -1.61 % | ||
| S3 | 7.23 | -3.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.52 | 13.90 % | |
| R2 | 8.47 | 13.24 % | ||
| R1 | 8.20 | 9.63 % | ||
| Current price | 7.48 | |||
| Support | S1 | 7.34 | -1.87% | |
| S2 | 7.11 | -4.95% | ||
| S3 | 6.67 | -10.83% |
FAQ
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