OTC Markets Group Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
OTC Markets Group Inc stock price down 0.708% on Friday
(Updated on May 24, 2024)
The OTC Markets Group Inc stock price fell by -0.708% on the last day (Friday, 24th May 2024) from $51.52 to $51.16. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 0.430% from a day low at $51.16 to a day high of $51.38. The price has fallen in 6 of the last 10 days and is down by -1.63% for this period. Volume has increased on the last day by 5 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, 7 thousand shares were bought and sold for approximately $368.73 thousand.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $51.72 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -9.93% during the next 3 months and, with a 90% probability hold a price between $43.11 and $46.59 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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OTCM 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 OTC Markets Group Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $51.75 and $52.25. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -7.41%. Further fall is indicated until a new bottom pivot has been found. OTC Markets Group Inc 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".
Support, Risk & Stop-loss for OTC Markets Group Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.220 between high and low, or 0.430%. For the last week the stock has had daily average volatility of 0.83%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OTCM) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect OTC Markets Group Inc to open at $51.23, and during the day (based on 14 day Average True Range), to move between $50.54 and $51.77, which gives a possible trading interval of +/-$0.615 (+/-1.20%) up or down from last closing price. If OTC Markets Group Inc takes out the full calculated possible swing range there will be an estimated 2.40% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $51.99, some $0.84 (1.63%) from the current price of $51.16, our system finds the risk reward not very attractive.
Is OTC Markets Group Inc stock A Buy?
OTC Markets Group Inc holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.359 Sell Candidate Unchanged
Predicted Opening Price for OTC Markets Group Inc of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| $51.23 ( 0.143%) | $51.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OTCM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.45 | 0.573 % | |
| R2 | 51.36 | 0.409 % | ||
| R1 | 51.31 | 0.308 % | ||
| Current price: | 51.16 | |||
| Support | S1 | 51.14 | -0.0209 % | |
| S2 | 51.09 | -0.122 % | ||
| S3 | 51.01 | -0.287 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 52.29 | 2.22 % | |
| R2 | 52.00 | 1.65 % | ||
| R1 | 51.99 | 1.63 % | ||
| Current price | 51.16 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
OTCM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 08, 2024 | Jun 06, 2024 | Jun 20, 2024 | $0.180 | 0.352% |
| 2 | Jun 05, 2024 | Jun 05, 2024 | Jun 20, 2024 | $0.180 | 0.352% |
| 3 | Mar 21, 2024 | Mar 21, 2024 | Mar 29, 2024 | $0.180 | 0.326% |
| 4 | Nov 08, 2023 | Dec 06, 2023 | Dec 21, 2023 | $0.180 | 0.323% |
| 5 | Nov 08, 2023 | Nov 20, 2023 | Dec 07, 2023 | $0.720 | 1.27% |
FAQ
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