Ostin Technology Group Co., Ltd. Stock Forecast
Ostin Technology Group Co., Ltd. stock upgraded to Hold/Accumulate.
(Updated on May 07, 2024)
The Ostin Technology Group Co., Ltd. stock price fell by -1.10% on the last day (Tuesday, 7th May 2024) from $0.454 to $0.449. During the last trading day the stock fluctuated 6.90% from a day low at $0.420 to a day high of $0.449. The price has fallen in 6 of the last 10 days and is down by -10.2% for this period. Volume has increased on the last day by 12 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 23 thousand shares were bought and sold for approximately $10.38 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -21.46% during the next 3 months and, with a 90% probability hold a price between $0.293 and $0.426 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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OST Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 9.97%. 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. The Ostin Technology Group Co., Ltd. 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 $0.461. On a fall, the stock will find some support from the short-term average at $0.433. 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. Ostin Technology Group Co., Ltd. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Ostin Technology Group Co., Ltd. stock
Ostin Technology Group Co., Ltd. finds support from accumulated volume at $0.430 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0290 between high and low, or 6.90%. For the last week, the stock has had daily average volatility of 10.10%.
Our recommended stop-loss: $0.436 (-2.92%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (OST) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Ostin Technology Group Co., Ltd. to open at $0.439, and during the day (based on 14 day Average True Range), to move between $0.401 and $0.497, which gives a possible trading interval of +/-$0.0485 (+/-10.79%) up or down from last closing price. If Ostin Technology Group Co., Ltd. takes out the full calculated possible swing range there will be an estimated 21.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.430 (4.16%) than the resistance at $0.509 (13.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ostin Technology Group Co., Ltd. stock A Buy?
Ostin Technology Group Co., 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.242 Hold/Accumulate Upgraded
Predicted Opening Price for Ostin Technology Group Co., Ltd. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $0.439 ( 2.15%) | $0.449 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.468 | 4.31 % | |
| R2 | 0.457 | 1.84 % | ||
| R1 | 0.450 | 0.314 % | ||
| Current price: | 0.449 | |||
| Support | S1 | 0.428 | -4.62 % | |
| S2 | 0.421 | -6.14 % | ||
| S3 | 0.410 | -8.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.550 | 22.52 % | |
| R2 | 0.535 | 19.06 % | ||
| R1 | 0.509 | 13.36 % | ||
| Current price | 0.449 | |||
| Support | S1 | 0.430 | -4.16% | |
| S2 | 0.430 | -4.21% | ||
| S3 | 0.411 | -8.46% |
FAQ
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