Oak Valley Bancorp(NDA) Stock Forecast
Green day on Monday for Oak Valley Bancorp(NDA) stock after gaining 0.559%
(Updated on Jun 10, 2024)
The Oak Valley Bancorp(NDA) stock price gained 0.559% on the last trading day (Monday, 10th Jun 2024), rising from $23.24 to $23.37. During the last trading day the stock fluctuated 1.43% from a day low at $23.06 to a day high of $23.39. The price has fallen in 7 of the last 10 days and is down by -3.83% for this period. Volume fell on the last day by -2 thousand shares and in total, 6 thousand shares were bought and sold for approximately $139.12 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 is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $23.08 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Oak Valley Bancorp(NDA) stock with a 90% probability to be traded between $23.03 and $24.92 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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OVLY Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 0.559%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Oak Valley Bancorp(NDA) 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 $23.41 and $24.10. A break-up above any of these levels will issue buy signals. 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.
A sell signal from a double top formation was found on Monday, May 13, 2024 and based on theory for this formation the price should fall by -3.81% to $22.48 within 14 trading days since signal was issued (Tuesday, June 11, 2024).
Support, Risk & Stop-loss for Oak Valley Bancorp(NDA) stock
Oak Valley Bancorp(NDA) finds support from accumulated volume at $23.28 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 controlled movements and therefore the general risk is considered 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 $0.330 between high and low, or 1.43%. For the last week the stock has had daily average volatility of 1.24%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OVLY) For The Upcoming Trading Day Of Tuesday 11th
For the upcoming trading day on Tuesday, 11th we expect Oak Valley Bancorp(NDA) to open at $23.27, and during the day (based on 14 day Average True Range), to move between $22.93 and $23.81, which gives a possible trading interval of +/-$0.440 (+/-1.88%) up or down from last closing price. If Oak Valley Bancorp(NDA) takes out the full calculated possible swing range there will be an estimated 3.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $23.45 (0.34%) than the support at $23.28 (0.39%), 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 Oak Valley Bancorp(NDA) stock A Buy?
Oak Valley Bancorp(NDA) holds several negative signals and is within a 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.
Current score: -1.613 Sell Candidate Unchanged
Predicted Opening Price for Oak Valley Bancorp(NDA) of Tuesday, June 11, 2024
| Fair opening price June 11, 2024 | Current price |
|---|---|
| $23.27 ( 0.414%) | $23.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OVLY
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.60 | 1.00% |
| R2 | 23.48 | 0.459% |
| R1 | 23.40 | 0.126% |
| Price | 23.37 | |
| S1 | 23.15 | -0.95% |
| S2 | 23.07 | -1.29% |
| S3 | 22.94 | -1.83% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.99 | 2.65% |
| R2 | 23.65 | 1.20% |
| R1 | 23.45 | 0.342% |
| Price | 23.37 | |
| S1 | 23.28 | -0.385% |
| S2 | 23.26 | -0.471% |
| S3 | 23.25 | -0.513% |
OVLY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 16, 2024 | Jan 26, 2024 | Feb 09, 2024 | $0.225 | 0.89% |
| 2 | Jul 18, 2023 | Jul 28, 2023 | Aug 11, 2023 | $0.160 | 0.594% |
| 3 | Jan 20, 2023 | Jan 27, 2023 | Feb 10, 2023 | $0.160 | 0.587% |
| 4 | Jul 21, 2022 | Jul 29, 2022 | Aug 12, 2022 | $0.150 | 0.81% |
| 5 | Jan 24, 2022 | Jan 28, 2022 | Feb 11, 2022 | $0.150 | 0.794% |
FAQ
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