Ontrak Inc Stock Forecast
Ontrak Inc stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Jun 20, 2024)
No changes to the price of Ontrak Inc stock on the last trading day (Thursday, 20th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.310 to a day high of $0.310. The price has been going up and down for this period, and there has been a -8.82% loss for the last 2 weeks.
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 -48.39% during the next 3 months and, with a 90% probability hold a price between $0.0462 and $0.200 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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OTRKP 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 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 $0.310 and $0.348. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Tuesday, May 28, 2024 and based on theory for this formation the price should fall by -35.42% to $0.200 within 2 trading days since signal was issued (Thursday, May 30, 2024).
Support, Risk & Stop-loss for Ontrak Inc stock
Ontrak Inc finds support from accumulated volume at $0.301 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OTRKP) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Ontrak Inc to open at $0.310, and during the day (based on 14 day Average True Range), to move between $0.282 and $0.338, which gives a possible trading interval of +/-$0.0279 (+/-8.99%) up or down from last closing price. If Ontrak Inc takes out the full calculated possible swing range there will be an estimated 17.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.301 (3.03%) than the resistance at $0.320 (3.23%), 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 is within a very wide and 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. 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: -3.369 Sell Candidate Downgraded
Predicted Opening Price for Ontrak Inc of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $0.310 ( 0%) | $0.310 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OTRKP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.310 | - |
| R2 | 0.310 | - |
| R1 | 0.310 | - |
| Price | 0.310 | |
| S1 | 0.310 | - |
| S2 | 0.310 | - |
| S3 | 0.310 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.360 | 16.13% |
| R2 | 0.350 | 12.90% |
| R1 | 0.320 | 3.23% |
| Price | 0.310 | |
| S1 | 0.301 | -3.03% |
| S2 | 0.300 | -3.19% |
| S3 | 0.300 | -3.23% |
OTRKP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 02, 2022 | Feb 14, 2022 | Feb 28, 2022 | $0.594 | 6.16% |
| 2 | Nov 02, 2021 | Nov 12, 2021 | Nov 30, 2021 | $0.594 | 4.48% |
| 3 | Aug 03, 2021 | Aug 12, 2021 | Aug 31, 2021 | $0.594 | 3.13% |
| 4 | May 05, 2021 | May 13, 2021 | May 28, 2021 | $0.594 | 2.41% |
| 5 | Feb 04, 2021 | Feb 11, 2021 | Feb 28, 2021 | $0.594 | 2.38% |
FAQ
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