Oncolytics Biotech Inc. Stock Forecast
Oncolytics Biotech Inc. stock price down 0% on Wednesday
(Updated on Apr 24, 2024)
No changes to the price of Oncolytics Biotech Inc. stock on the last trading day (Wednesday, 24th Apr 2024). During the last trading day the stock fluctuated 2.97% from a day low at $1.03 to a day high of $1.06. The price has fallen in 5 of the last 10 days and is down by -6.19% for this period.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.12% during the next 3 months and, with a 90% probability hold a price between $0.797 and $1.09 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ONCY Signals & Forecast
There are mixed signals in the stock today. The Oncolytics Biotech Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $1.06. On a fall, the stock will find some support from the short-term average at $1.05. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -8.62%. 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 gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Tuesday, April 09, 2024 and based on theory for this formation the price should fall by -16.44% to $0.89 within 35 trading days since signal was issued (Thursday, April 25, 2024).
Support, Risk & Stop-loss for Oncolytics Biotech Inc. stock
Oncolytics Biotech Inc. finds support from accumulated volume at $1.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0306 between high and low, or 2.97%. For the last week, the stock has had daily average volatility of 3.29%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ONCY) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Oncolytics Biotech Inc. to open at $1.05, and during the day (based on 14 day Average True Range), to move between $1.00 and $1.12, which gives a possible trading interval of +/-$0.0621 (+/-5.86%) up or down from last closing price. If Oncolytics Biotech Inc. takes out the full calculated possible swing range there will be an estimated 11.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.05 (0.94%) than the resistance at $1.14 (7.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Oncolytics Biotech Inc. stock A Buy?
Oncolytics Biotech Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.953 Sell Candidate Unchanged
Predicted Opening Price for Oncolytics Biotech Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $1.05 ( 0.96%) | $1.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ONCY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.08 | 1.92 % | |
| R2 | 1.07 | 0.82 % | ||
| R1 | 1.06 | 0.140 % | ||
| Current price: | 1.06 | |||
| Support | S1 | 1.04 | -2.07 % | |
| S2 | 1.03 | -2.75 % | ||
| S3 | 1.02 | -3.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.16 | 9.43 % | |
| R2 | 1.15 | 8.49 % | ||
| R1 | 1.14 | 7.55 % | ||
| Current price | 1.06 | |||
| Support | S1 | 1.05 | -0.94% | |
| S2 | 1.04 | -1.89% | ||
| S3 | 1.02 | -3.77% |
FAQ
Click here for our free guide on how to buy Oncolytics Biotech Inc. Stock.
