Oragenics Inc Stock Forecast
High volatility in Oragenics Inc stock price on Tuesday which ended trading at $1.34
(Updated on May 07, 2024)
The Oragenics Inc stock price gained 24.07% on the last trading day (Tuesday, 7th May 2024), rising from $1.08 to $1.34. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 37.17% from a day low at $1.13 to a day high of $1.55. The price has risen in 5 of the last 10 days and is up by 22.94% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 547 thousand more shares were traded than the day before. In total, 584 thousand shares were bought and sold for approximately $782.57 thousand.
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 $1.53 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -61.88% during the next 3 months and, with a 90% probability hold a price between $0.0891 and $0.583 at the end of this 3-month period. 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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OGEN Signals & Forecast
The Oragenics Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $1.09 and $1.22. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 32.67%. 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). Oragenics Inc has increased 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.
Support, Risk & Stop-loss for Oragenics Inc stock
Oragenics Inc finds support from accumulated volume at $1.32 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 $0.420 between high and low, or 37.17%. For the last week, the stock has had daily average volatility of 11.95%.
Our recommended stop-loss: $1.29 (-3.56%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (OGEN) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Oragenics Inc to open at $1.34, and during the day (based on 14 day Average True Range), to move between $1.22 and $1.46, which gives a possible trading interval of +/-$0.123 (+/-9.19%) up or down from last closing price. If Oragenics Inc takes out the full calculated possible swing range there will be an estimated 18.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.32 (1.49%) than the resistance at $1.42 (5.97%), 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
Oragenics Inc will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for Oragenics Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.58% in the first trading day after earnings release.
Is Oragenics Inc stock A Buy?
Oragenics Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Oragenics Inc of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $1.34 ( 0.00000000%) | $1.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OGEN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.76 | 31.34 % | |
| R2 | 1.60 | 19.37 % | ||
| R1 | 1.50 | 11.97 % | ||
| Current price: | 1.34 | |||
| Support | S1 | 1.18 | -11.97 % | |
| S2 | 1.08 | -19.37 % | ||
| S3 | 0.92 | -31.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.44 | 7.46 % | |
| R2 | 1.43 | 6.72 % | ||
| R1 | 1.42 | 5.97 % | ||
| Current price | 1.34 | |||
| Support | S1 | 1.32 | -1.49% | |
| S2 | 1.20 | -10.45% | ||
| S3 | 1.08 | -19.40% |
FAQ
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