Orion Engineered Carbons SA Stock Forecast
Orion Engineered Carbons SA stock price ended at $23.53 on Wednesday, after losing 1.71%.
(Updated on Apr 24, 2024)
The Orion Engineered Carbons SA stock price fell by -1.71% on the last day (Wednesday, 24th Apr 2024) from $23.94 to $23.53. During the last trading day the stock fluctuated 2.49% from a day low at $23.33 to a day high of $23.91. The price has fallen in 6 of the last 10 days and is down by -5.77% for this period. 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 -52 thousand shares and in total, 229 thousand shares were bought and sold for approximately $5.38 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.02% during the next 3 months and, with a 90% probability hold a price between $24.44 and $27.53 at the end of this 3-month period.
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OEC Signals & Forecast
The Orion Engineered Carbons SA stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $23.78. On a fall, the stock will find some support from the long-term average at approximately $23.52. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -7.44%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Orion Engineered Carbons SA stock
Orion Engineered Carbons SA finds support from accumulated volume at $23.39 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.580 (2.49%) between high and low. For the last week, the stock has had daily average volatility of 2.51%.
Our recommended stop-loss: $22.25 (-5.46%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (OEC) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Orion Engineered Carbons SA to open at $23.59, and during the day (based on 14 day Average True Range), to move between $22.93 and $24.13, which gives a possible trading interval of +/-$0.604 (+/-2.57%) up or down from last closing price. If Orion Engineered Carbons SA takes out the full calculated possible swing range there will be an estimated 5.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $23.39 (0.59%) than the resistance at $23.94 (1.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Orion Engineered Carbons SA will release earnings AMC on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.630. We will update the financials statements for Orion Engineered Carbons SA, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.68% in the first trading day after earnings release.
Is Orion Engineered Carbons SA stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Orion Engineered Carbons SA stock to perform well in the short-term.
Current score: 1.534 Buy Candidate Unchanged
Predicted Opening Price for Orion Engineered Carbons SA of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $23.59 ( 0.255%) | $23.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OEC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.17 | 2.72 % | |
| R2 | 23.95 | 1.78 % | ||
| R1 | 23.81 | 1.20 % | ||
| Current price: | 23.53 | |||
| Support | S1 | 23.37 | -0.687 % | |
| S2 | 23.23 | -1.27 % | ||
| S3 | 23.01 | -2.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.42 | 8.03 % | |
| R2 | 24.09 | 2.38 % | ||
| R1 | 23.94 | 1.74 % | ||
| Current price | 23.53 | |||
| Support | S1 | 23.39 | -0.595% | |
| S2 | 23.33 | -0.85% | ||
| S3 | 22.79 | -3.14% |
OEC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 29, 2024 | Mar 12, 2024 | Apr 04, 2024 | $0.0207 | 0.0859% |
| 2 | Sep 21, 2023 | Dec 14, 2023 | Jan 17, 2024 | $0.0200 | 0.0865% |
| 3 | Jun 08, 2023 | Sep 14, 2023 | Oct 05, 2023 | $0.0207 | 0.103% |
| 4 | Apr 24, 2023 | May 16, 2023 | Jul 06, 2023 | $0.0210 | 0.100% |
| 5 | Mar 09, 2023 | Mar 20, 2023 | Apr 05, 2023 | $0.0210 | 0.0842% |
FAQ
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