Ontrak Inc Stock Forecast
Volatile ride for Ontrak Inc stock price on Monday moving between $0.271 and $0.310
(Updated on Apr 22, 2024)
The Ontrak Inc stock price gained 17.47% on the last trading day (Monday, 22nd Apr 2024), rising from $0.253 to $0.297. During the last trading day the stock fluctuated 14.22% from a day low at $0.271 to a day high of $0.310. The price has risen in 7 of the last 10 days but is still down by -18.2% for this period. Volume fell on the last day by -106 thousand shares and in total, 2 million shares were bought and sold for approximately $496.42 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 $0.256 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 58.44% during the next 3 months and, with a 90% probability hold a price between $0.406 and $1.05 at the end of this 3-month period.
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OTRK Signals & Forecast
There are few to no technical positive signals at the moment. The Ontrak Inc 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 $0.354 and $0.320. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -50.15%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Ontrak Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.275 and $0.260. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Ontrak Inc finds support just below today's level at $0.275. If this is broken, then the next support from accumulated volume will be at $0.260 and $0.253.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0386 between high and low, or 14.22%. For the last week the stock has had daily average volatility of 19.39%.
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 Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Ontrak Inc to open at $0.293, and during the day (based on 14 day Average True Range), to move between $0.209 and $0.385, which gives a possible trading interval of +/-$0.0881 (+/-29.70%) up or down from last closing price. If Ontrak Inc takes out the full calculated possible swing range there will be an estimated 59.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.316 (6.54%) than the support at $0.275 (7.42%), 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 Ontrak Inc stock A Buy?
The Ontrak Inc stock holds several negative signals and despite the positive trend, we believe Ontrak Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.581 Sell Candidate Unchanged
Predicted Opening Price for Ontrak Inc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $0.293 ( 1.33%) | $0.297 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 0.331 | 11.69 % | |
| R2 | 0.317 | 6.72 % | ||
| R1 | 0.307 | 3.65 % | ||
| Current price: | 0.297 | |||
| Support | S1 | 0.278 | -6.30 % | |
| S2 | 0.269 | -9.37 % | ||
| S3 | 0.254 | -14.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.365 | 23.20 % | |
| R2 | 0.364 | 22.72 % | ||
| R1 | 0.316 | 6.54 % | ||
| Current price | 0.297 | |||
| Support | S1 | 0.275 | -7.42% | |
| S2 | 0.260 | -12.34% | ||
| S3 | 0.253 | -14.87% |
FAQ
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