OM Group, Inc Stock Forecast
Green day on Wednesday for OM Group, Inc
(Updated on Apr 24, 2024)
The OM Group, Inc stock price gained 0.0940% on the last trading day (Wednesday, 24th Apr 2024), rising from £106.40 to £106.50. During the last trading day the stock fluctuated 1.21% from a day low at £105.22 to a day high of £106.50. The price has risen in 4 of the last 10 days. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 117 thousand more shares were traded than the day before. In total, 153 thousand shares were bought and sold for approximately £16.34 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect OM Group, Inc stock with a 90% probability to be traded between £99.20 and £115.27 at the end of this 3-month period. 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 top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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OMG.L Signals & Forecast
The OM Group, Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £105.81 and £105.36. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical 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 Thursday, February 15, 2024, and so far it has fallen -5.33%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for OM Group, Inc stock
OM Group, Inc finds support from accumulated volume at £105.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £1.28 between high and low, or 1.21%. For the last week the stock has had daily average volatility of 1.35%.
Our recommended stop-loss: £100.26 (-5.86%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 47 days ago.)
Trading Expectations (OMG.L) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect OM Group, Inc to open at £106.07, and during the day (based on 14 day Average True Range), to move between £104.51 and £108.49, which gives a possible trading interval of +/-£1.99 (+/-1.86%) up or down from last closing price. If OM Group, Inc takes out the full calculated possible swing range there will be an estimated 3.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £105.50 (0.94%) than the resistance at £107.70 (1.13%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is OM Group, Inc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for OM Group, Inc stock to perform well in the short-term period.
Current score: 1.863 Buy Candidate Unchanged
Predicted Opening Price for OM Group, Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| £106.07 ( 0.400%) | £106.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OMG.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 107.35 | 0.80 % | |
| R2 | 106.86 | 0.342 % | ||
| R1 | 106.56 | 0.0584 % | ||
| Current price: | 106.50 | |||
| Support | S1 | 105.59 | -0.86 % | |
| S2 | 105.28 | -1.14 % | ||
| S3 | 104.80 | -1.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 112.50 | 5.63 % | |
| R2 | 109.00 | 2.35 % | ||
| R1 | 107.70 | 1.13 % | ||
| Current price | 106.50 | |||
| Support | S1 | 105.50 | -0.94% | |
| S2 | 105.00 | -1.41% | ||
| S3 | 101.00 | -5.16% |
OMG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 14, 2023 | Dec 14, 2023 | Dec 14, 2023 | £0 | 0% |
| 2 | Dec 22, 2022 | Dec 29, 2022 | Feb 23, 2023 | £2.50 | 0.0231% |
| 3 | Dec 02, 2021 | Dec 09, 2021 | Feb 23, 2022 | £2.00 | 0.0183% |
| 4 | Dec 03, 2020 | Dec 10, 2020 | Mar 05, 2021 | £1.80 | 1.96% |
| 5 | Dec 03, 2019 | Dec 12, 2019 | Feb 28, 2020 | £1.80 | 0.0176% |
FAQ
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