Osino Resources Corp. Stock Forecast
Osino Resources Corp. stock downgraded to Sell Candidate
(Updated on Jun 10, 2024)
The Osino Resources Corp. stock price fell by -0.758% on the last day (Monday, 10th Jun 2024) from $1.32 to $1.31. During the last trading day the stock fluctuated 0.769% from a day low at $1.30 to a day high of $1.31. The price has been going up and down for this period, and there has been a 0% change for the last 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 -950 shares and in total, 3 thousand shares were bought and sold for approximately $4.26 thousand.
The stock lies in the middle of a narrow and weak 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 3.75% during the next 3 months and, with a 90% probability hold a price between $1.34 and $1.40 at the end of this 3-month period.
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OSIIF Signals & Forecast
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. The Osino Resources Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1.33 and $1.32. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -2.96%. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Osino Resources Corp. stock
Osino Resources Corp. finds support from accumulated volume at $1.31 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0100 between high and low, or 0.769%. For the last week the stock has had daily average volatility of 0.305%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OSIIF) For The Upcoming Trading Day Of Tuesday 11th
For the upcoming trading day on Tuesday, 11th we expect Osino Resources Corp. to open at $1.31, and during the day (based on 14 day Average True Range), to move between $1.30 and $1.32, which gives a possible trading interval of +/-$0.0121 (+/-0.93%) up or down from last closing price. If Osino Resources Corp. takes out the full calculated possible swing range there will be an estimated 1.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.32 (0.38%) than the support at $1.31 (0.38%), 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 Osino Resources Corp. stock A Buy?
The Osino Resources Corp. stock holds several negative signals and despite the positive trend, we believe Osino Resources Corp. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.339 Sell Candidate Downgraded
Predicted Opening Price for Osino Resources Corp. of Tuesday, June 11, 2024
| Fair opening price June 11, 2024 | Current price |
|---|---|
| $1.31 ( 0.254%) | $1.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OSIIF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.32 | 0.509% |
| R2 | 1.31 | 0.217% |
| R1 | 1.31 | 0.0372% |
| Price | 1.31 | |
| S1 | 1.30 | -0.546% |
| S2 | 1.30 | -0.726% |
| S3 | 1.30 | -1.02% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.33 | 1.53% |
| R2 | 1.32 | 0.763% |
| R1 | 1.32 | 0.382% |
| Price | 1.31 | |
| S1 | 1.31 | -0.382% |
| S2 | 1.27 | -3.05% |
| S3 | 1.25 | -4.77% |
FAQ
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