Obsidian Energy Ltd. Forecast and Stock Analysis
Technical OBE stock analysis for March 20, 2019.
|Shorts||11.42% ( 2019-02-28 )|
Obsidian Energy Ltd. gained 1.59% in the last trading day, rising from $0.29 to $0.29 The price has fallen in 7 of the last 10 days and is down by -17.27% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 1.74 million more shares were traded than the day before. In total, 3.89 million shares bought and sold for approximately $1.15 million.
Close price at the end of the last trading day (Wednesday, 20th Mar 2019) of the OBE stock was $0.29. This is 1.59% more than the trading day before Tuesday, 19th Mar 2019.
During day the stock fluctuated 3.14% from a day low at $0.29 to a day high of $0.30.
30 day high of the OBE stock price was $0.40 and low was $0.28.
90 day high was $0.55 and low was $0.28.
52 week high for the Obsidian Energy Ltd. - $1.24 and low - $0.28.
Obsidian Energy Ltd. 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 -29.58% during the next 3 months and, with 90% probability hold a price between $0.13 and $0.27 at the end of this period.
A buy signal was issued from a pivot bottom point on Tuesday March 19, 2019, which indicates further gains until a new top pivot has been found. Obsidian Energy Ltd. has rising 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Obsidian Energy Ltd. holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 $0.30 and $0.35. A break-up above any of these levels will issue buy signals.
Relative Strength Index (RSI)
RSI14 is 31 and the stock is currently not being overbought or oversold
Support & Resistance
Obsidian Energy Ltd. finds support from accumulated volume at $0.29.
This stock may move much during a 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 $0.01 between high and low, or 3.14%. For the last week, the stock has had a daily average volatility of 4.24%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
Obsidian Energy Ltd. 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. We have upgraded our recommendation for this stock since last evaluation from a Strong Sell Candidate to a Sell Candidate.