Organovo Holdings, Inc Stock Forecast
Green day on Thursday for Organovo Holdings, Inc stock after gaining 1.98%
(Updated on Mar 28, 2024)
The Organovo Holdings, Inc stock price gained 1.98% on the last trading day (Thursday, 28th Mar 2024), rising from $1.01 to $1.03. During the last trading day the stock fluctuated 2.94% from a day low at $1.02 to a day high of $1.05. The price has risen in 5 of the last 10 days and is up by 4.04% over the past 2 weeks. Volume fell on the last day by -19 thousand shares and in total, 40 thousand shares were bought and sold for approximately $41.41 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -6.76% during the next 3 months and, with a 90% probability hold a price between $0.800 and $1.01 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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ONVO Signals & Forecast
The Organovo Holdings, 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 $1.03 and $1.02. 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). 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 Monday, February 12, 2024, and so far it has fallen -8.04%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Organovo Holdings, Inc stock
Organovo Holdings, Inc finds support from accumulated volume at $1.02 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.0300 between high and low, or 2.94%. For the last week the stock has had daily average volatility of 7.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ONVO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Organovo Holdings, Inc to open at $1.03, and during the day (based on 14 day Average True Range), to move between $0.96 and $1.10, which gives a possible trading interval of +/-$0.0681 (+/-6.61%) up or down from last closing price. If Organovo Holdings, Inc takes out the full calculated possible swing range there will be an estimated 13.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.02 (0.97%) than the resistance at $1.11 (7.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Organovo Holdings, Inc stock A Buy?
Organovo Holdings, 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: -1.444 Sell Candidate Unchanged
Predicted Opening Price for Organovo Holdings, Inc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$1.03 ( 0.324%) | $1.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ONVO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.06 | 3.24 % | |
R2 | 1.05 | 2.12 % | ||
R1 | 1.04 | 1.44 % | ||
Current price: | 1.03 | |||
Support | S1 | 1.02 | -0.789 % | |
S2 | 1.01 | -1.48 % | ||
S3 | 1.00 | -2.59 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.17 | 13.59 % | |
R2 | 1.12 | 8.74 % | ||
R1 | 1.11 | 7.77 % | ||
Current price | 1.03 | |||
Support | S1 | 1.02 | -0.97% | |
S2 | 1.01 | -1.94% | ||
S3 | 1.00 | -2.91% |
FAQ
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