Ontrak Inc Stock Forecast
A very strong day for Ontrak Inc stock price on Wednesday
(Updated on Jun 26, 2024)
The Ontrak Inc stock price gained 5.42% on the last trading day (Wednesday, 26th Jun 2024), rising from $0.275 to $0.290. During the last trading day the stock fluctuated 5.38% from a day low at $0.275 to a day high of $0.290. The price has been going up and down for this period, and there has been a -6.45% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 57 more shares were traded than the day before. In total, 224 shares were bought and sold for approximately $64.96 .
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.285, a level that may pose a second chance to hit a runner. According to fan-theory $0.490 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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OTRKP 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 $0.302 and $0.332. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 5.42%. 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
On the downside, the stock finds support just below today's level from accumulated volume at $0.275. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
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 $0.0148 between high and low, or 5.38%. For the last week, the stock has had daily average volatility of 1.08%.
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 Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Ontrak Inc to open at $0.285, and during the day (based on 14 day Average True Range), to move between $0.266 and $0.314, which gives a possible trading interval of +/-$0.0240 (+/-8.27%) up or down from last closing price. If Ontrak Inc takes out the full calculated possible swing range there will be an estimated 16.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.300 (3.48%) than the support at $0.275 (5.14%), 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?
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. 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: -2.964 Sell Candidate Downgraded
Predicted Opening Price for Ontrak Inc of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $0.285 ( 1.70%) | $0.290 |
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 | 0.300 | 3.40% |
| R2 | 0.294 | 1.45% |
| R1 | 0.291 | 0.248% |
| Price | 0.290 | |
| S1 | 0.279 | -3.65% |
| S2 | 0.276 | -4.86% |
| S3 | 0.270 | -6.80% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.360 | 24.14% |
| R2 | 0.301 | 3.66% |
| R1 | 0.300 | 3.48% |
| Price | 0.290 | |
| S1 | 0.275 | -5.14% |
| S2 | 0 | - |
| S3 | 0 | - |
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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