Ocular Therapeutix Stock Forecast
High volatility in Ocular Therapeutix stock price on Friday which ended trading at $5.22
(Updated on Apr 19, 2024)
The Ocular Therapeutix stock price fell by -10.92% on the last day (Friday, 19th Apr 2024) from $5.86 to $5.22. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 18.47% from a day low at $4.98 to a day high of $5.90. The price has fallen in 8 of the last 10 days and is down by -38.15% for this period. Volume has increased on the last day by 3 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 9 million shares were bought and sold for approximately $47.61 million.
Given the current short-term trend, the stock is expected to rise 42.27% during the next 3 months and, with a 90% probability hold a price between $7.43 and $18.37 at the end of this 3-month period.
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OCUL Signals & Forecast
There are few to no technical positive signals at the moment. The Ocular Therapeutix 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 $7.22 and $8.97. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 05, 2024, and so far it has fallen -52.24%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Ocular Therapeutix stock
Ocular Therapeutix finds support from accumulated volume at $5.11 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 much during the 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 $0.92 between high and low, or 18.47%. For the last week, the stock has had daily average volatility of 13.26%.
Ocular Therapeutix is oversold on RSI14 (12). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OCUL) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Ocular Therapeutix to open at $5.37, and during the day (based on 14 day Average True Range), to move between $4.57 and $5.87, which gives a possible trading interval of +/-$0.646 (+/-12.37%) up or down from last closing price. If Ocular Therapeutix takes out the full calculated possible swing range there will be an estimated 24.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.11 (2.11%) than the resistance at $5.68 (8.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ocular Therapeutix stock A Buy?
The Ocular Therapeutix stock holds several negative signals and despite the positive trend, we believe Ocular Therapeutix will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.313 Sell Candidate Unchanged
Predicted Opening Price for Ocular Therapeutix of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $5.37 ( 2.81%) | $5.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OCUL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.29 | 20.43 % | |
| R2 | 5.94 | 13.70 % | ||
| R1 | 5.72 | 9.54 % | ||
| Current price: | 5.22 | |||
| Support | S1 | 5.02 | -3.92 % | |
| S2 | 4.80 | -8.08 % | ||
| S3 | 4.45 | -14.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.88 | 12.64 % | |
| R2 | 5.86 | 12.26 % | ||
| R1 | 5.68 | 8.81 % | ||
| Current price | 5.22 | |||
| Support | S1 | 5.11 | -2.11% | |
| S2 | 4.66 | -10.73% | ||
| S3 | 4.07 | -22.03% |
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