Ontrak Inc Stock Forecast
High volatility in Ontrak Inc stock price on Tuesday which ended trading at $0.204
(Updated on Jul 02, 2024)
The Ontrak Inc stock price gained 4.08% on the last trading day (Tuesday, 2nd Jul 2024), rising from $0.196 to $0.204. During the last trading day the stock fluctuated 19.83% from a day low at $0.181 to a day high of $0.217. The price has fallen in 8 of the last 10 days and is down by -14.69% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 thousand more shares were traded than the day before. In total, 267 thousand shares were bought and sold for approximately $54.50 thousand.
The stock lies the upper part of a very wide and 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 $0.210 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 -45.59% during the next 3 months and, with a 90% probability hold a price between $0.0602 and $0.114 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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OTRK Signals & Forecast
There are mixed signals in the stock today. The Ontrak 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 $0.207 and $0.243. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, July 01, 2024, and so far it has risen 4.08%. 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). Ontrak Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Ontrak Inc stock
Ontrak Inc finds support from accumulated volume at $0.203 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 $0.0359 between high and low, or 19.83%. For the last week, the stock has had daily average volatility of 13.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OTRK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Ontrak Inc to open at $0.201, and during the day (based on 14 day Average True Range), to move between $0.181 and $0.227, which gives a possible trading interval of +/-$0.0230 (+/-11.30%) up or down from last closing price. If Ontrak Inc takes out the full calculated possible swing range there will be an estimated 22.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.203 (0.25%) than the resistance at $0.236 (15.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ontrak Inc stock A Buy?
Ontrak 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.881 Sell Candidate Upgraded
Predicted Opening Price for Ontrak Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.201 ( 1.62%) | $0.204 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OTRK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.237 | 15.99% |
| R2 | 0.223 | 9.26% |
| R1 | 0.214 | 5.11% |
| Price | 0.204 | |
| S1 | 0.187 | -8.34% |
| S2 | 0.178 | -12.50% |
| S3 | 0.165 | -19.23% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.253 | 23.84% |
| R2 | 0.250 | 22.61% |
| R1 | 0.236 | 15.74% |
| Price | 0.204 | |
| S1 | 0.203 | -0.245% |
| S2 | 0.196 | -3.92% |
| S3 | 0 | - |
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