Obsidian Energy Ltd. Stock Forecast
Obsidian Energy Ltd. stock price ended at $0.163 on Thursday, after losing 0%.
(Updated on Apr 16, 2020)
No changes to the price of Obsidian Energy Ltd. stock on the last trading day (Thursday, 16th Apr 2020). During the last trading day the stock fluctuated 0% from a day low at $0.163 to a day high of $0.163. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.167 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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OBE Signals & Forecast
There are mixed signals in the stock today. The Obsidian Energy Ltd. 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 $0.163 and $0.248. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Wednesday, April 01, 2020, and so far it has fallen 0%. 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).
Support, Risk & Stop-loss for Obsidian Energy Ltd. stock
Obsidian Energy Ltd. finds support from accumulated volume at $0.159 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 therefore the general risk is considered very 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%
Obsidian Energy Ltd. is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OBE) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Obsidian Energy Ltd. to open at $0.163, and during the day (based on 14 day Average True Range), to move between $0.140 and $0.186, which gives a possible trading interval of +/-$0.0225 (+/-13.82%) up or down from last closing price. If Obsidian Energy Ltd. takes out the full calculated possible swing range there will be an estimated 27.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.159 (2.45%) than the resistance at $0.171 (5.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Obsidian Energy Ltd. stock A Buy?
Obsidian Energy Ltd. 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.
Current score: -3.903 Sell Candidate Unchanged
Predicted Opening Price for Obsidian Energy Ltd. of Friday, April 17, 2020
| Fair opening price April 17, 2020 | Current price |
|---|---|
| $0.163 ( 0%) | $0.163 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OBE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.163 | . | |
| R2 | 0.163 | . | ||
| R1 | 0.163 | . | ||
| Current price: | 0.163 | |||
| Support | S1 | 0.163 | . | |
| S2 | 0.163 | . | ||
| S3 | 0.163 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.200 | 22.70 % | |
| R2 | 0.173 | 6.13 % | ||
| R1 | 0.171 | 5.09 % | ||
| Current price | 0.163 | |||
| Support | S1 | 0.159 | -2.45% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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