Oragenics Inc Stock Analysis
Technical stock analysis for Wed 12'th Dec 2018
|Shorts||0.35% ( 2018-11-15 )|
Oragenics Inc fell by -4.81% in the last day from $1.04 to $0.99 The price has fallen in 6 of the last 10 days , but is still up by 13.79% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -0.27 million shares and in total 1.16 million shares bought and sold for approximately $1.15 million.
Oragenics Inc is the lower part of a very wide and horizontal trend on short term, and normally this would pose a good buying opportunity, though a break down through the bottom trend line at $0.66 will give a strong sales signal and a trend shift may be expected. Given the current horizontal trend you can expect Oragenics Inc with 90% probability to be traded between $0.67 and $3.69 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
There are mixed signals in the stock today. Oragenics Inc holds sales signals from both short- and long-term moving averages. On corrections up there will be some resistance from the lines at $1.14 and $0.99. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Monday December 10, 2018, which indicates further gains until a new top pivot has been found.
Relative Strength Index (RSI)
RSI14 is 58 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $0.93 and $0.87.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Oragenics Inc finds support just below today's level at $0.93. If this is broken, then the next support from accumulated volume will be at $0.87 and $0.83.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.06 between high and low, or 6.12%. For the last week the stock has had a daily average volatility of 12.58%.
Our recommended stoploss: $0.91 (-8.03%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from pivot bottom found 2 days ago.)
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Oragenics Inc holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Hold/Accumulate.
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