Opko Health Inc Stock Forecast

Red day on Friday for Opko Health Inc
(Updated on Apr 19, 2024)

OPK Signals & Forecast

The Opko Health Inc stock holds a sell 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 giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $1.24. On a fall, the stock will find some support from the long-term average at approximately $1.10. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell 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 Monday, April 08, 2024, and so far it has fallen -12.14%. 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 fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.

Support, Risk & Stop-loss for Opko Health Inc stock

Opko Health Inc finds support from accumulated volume at $1.20 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0415 between high and low, or 3.46%. For the last week, the stock has had daily average volatility of 4.34%.

Our recommended stop-loss: $1.15 (-6.20%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 9 days ago.)

Trading Expectations (OPK) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Opko Health Inc to open at $1.22, and during the day (based on 14 day Average True Range), to move between $1.16 and $1.30, which gives a possible trading interval of +/-$0.0715 (+/-5.81%) up or down from last closing price. If Opko Health Inc takes out the full calculated possible swing range there will be an estimated 11.63% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $1.20 (2.44%) than the resistance at $1.31 (6.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Opko Health Inc stock A Buy?

Opko Health Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.630 Hold/Accumulate Unchanged

Predicted Opening Price for Opko Health Inc of Monday, April 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.