Oculus VisionTech Inc Stock Forecast
Oculus VisionTech Inc stock price took a fall of -31.55% on Tuesday
(Updated on Jul 02, 2024)
The Oculus VisionTech Inc stock price fell by -31.55% on the last day (Tuesday, 2nd Jul 2024) from $0.0599 to $0.0410. During the last trading day the stock fluctuated 0% from a day low at $0.0410 to a day high of $0.0410. The price has been going up and down for this period, and there has been a -11.45% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -846 shares and in total, 3 thousand shares were bought and sold for approximately $106.76 .
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 $0.0376 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 13.60% during the next 3 months and, with a 90% probability hold a price between $0.0428 and $0.0682 at the end of this 3-month period.
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OVTZ 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 Oculus VisionTech 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 $0.0454 and $0.0437. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, July 01, 2024, and so far it has fallen -31.55%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Oculus VisionTech Inc stock
Oculus VisionTech Inc finds support from accumulated volume at $0.0400 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 between high and low, or 0%. For the last week the stock has had daily average volatility of 9.72%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OVTZ) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Oculus VisionTech Inc to open at $0.0410, and during the day (based on 14 day Average True Range), to move between $0.0330 and $0.0490, which gives a possible trading interval of +/-$0.0080 (+/-19.40%) up or down from last closing price. If Oculus VisionTech Inc takes out the full calculated possible swing range there will be an estimated 38.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0400 (2.44%) than the resistance at $0.0465 (13.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Oculus VisionTech Inc stock A Buy?
The Oculus VisionTech Inc stock holds several negative signals and despite the positive trend, we believe Oculus VisionTech Inc will perform weakly in the next couple of days or weeks. Therefore, we 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: -4.325 Sell Candidate Downgraded
Predicted Opening Price for Oculus VisionTech Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.0410 ( 0%) | $0.0410 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OVTZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0410 | - |
| R2 | 0.0410 | - |
| R1 | 0.0410 | - |
| Price | 0.0410 | |
| S1 | 0.0410 | - |
| S2 | 0.0410 | - |
| S3 | 0.0410 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0500 | 21.95% |
| R2 | 0.0474 | 15.67% |
| R1 | 0.0465 | 13.41% |
| Price | 0.0410 | |
| S1 | 0.0400 | -2.44% |
| S2 | 0.0358 | -12.80% |
| S3 | 0.0350 | -14.63% |
FAQ
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