Fri 20'th Apr 2018
Odyssey Marine Exploration Stock Analysis
Technical stock analysis for Fri 20'th Apr 2018
Odyssey Marine Exploration fell by -1.84% in the last day from $9.24 to $9.07 and has now fallen 3 days in a row. The price has risen in 7 of the last 10 days and is up by 3.07% over the past 2 weeks. Volume has increased in the last day by 32 449 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 154 489 shares bought and sold for approximately $1.40 million.
|Shorts||5.93% ( 2018-03-29 )|
Odyssey Marine Exploration lies in the middle of a very wide and strong 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 155.28% during the next 3 months and, with 90% probability hold a price between $15.52 and $30.29 at the end of this period.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Wednesday April 18, 2018, which indicates further falls until a new bottom pivot has been found. Odyssey Marine Exploration gained volume on the last day, but on falling prices. In technical terms this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-off's". Odyssey Marine Exploration holds a sales 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. On further gains, the stock will meet resistance from the short-term moving average at approximately $10.20. On a fall, the stock will find some support from the long-term average at approximately $7.26. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal.
Relative Strength Index (RSI)
RSI14 is 57 and the stock is currently not being overbought or oversold
Support & Resistance
Odyssey Marine Exploration finds support from accumulated volume at $9.02. On the upside the stock meets some resistance just above today's level from accumulated volume at $9.20, $9.59 and $10.78.
The stock is about to test the resistance from accumulated volume at $9.20 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
This stock may move much during a 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 $0.82 between high and low, or 9.57%. For the last week, the stock has had a daily average volatility of 13.97%.
Our recommended stoploss: $8.27 (-8.80%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from pivot top found 2 days ago.)
Very Low Low Medium High Very High
Odyssey Marine Exploration 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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