Ohio Valley Banc Corp. Stock Forecast

Ohio Valley Banc Corp. stock price down 1.82% on Monday
(Updated on Apr 15, 2024)

OVBC Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 1.72%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ohio Valley Banc Corp. 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 $23.75 and $24.10. A break-up above any of these levels will issue buy signals. Ohio Valley Banc Corp. 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". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Ohio Valley Banc Corp. stock

Ohio Valley Banc Corp. finds support from accumulated volume at $23.55 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.300 between high and low, or 1.27%. For the last week the stock has had daily average volatility of 2.31%.

Our recommended stop-loss: $22.63 (-4.52%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (OVBC) For The Upcoming Trading Day Of Tuesday 16th

For the upcoming trading day on Tuesday, 16th we expect Ohio Valley Banc Corp. to open at $23.80, and during the day (based on 14 day Average True Range), to move between $23.21 and $24.19, which gives a possible trading interval of +/-$0.490 (+/-2.07%) up or down from last closing price. If Ohio Valley Banc Corp. takes out the full calculated possible swing range there will be an estimated 4.14% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $23.55 (0.63%) than the resistance at $24.00 (1.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Ohio Valley Banc Corp. stock A Buy?

Ohio Valley Banc Corp. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.493 Hold/Accumulate Unchanged

Predicted Opening Price for Ohio Valley Banc Corp. of Tuesday, April 16, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.