Orange Forecast and Stock Analysis
Technical ORAN stock analysis for March 22, 2019.
|Shorts||1.01% ( 2019-02-28 )|
Orange fell by -1.46% in the last day from $16.46 to $16.22 The price has risen in 8 of the last 10 days and is up by 6.43% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -10 249 shares and in total 381 324 shares bought and sold for approximately $6.19 million.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the ORAN stock was $16.22. This is 1.46% less than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 0.80% from a day low at $16.19 to a day high of $16.32.
30 day high of the ORAN stock price was $16.53 and low was $14.91.
90 day high was $16.53 and low was $14.84.
52 week high for the Orange - $18.30 and low - $14.84.
Orange is the upper part of a wide and horizontal trend and normally this would pose a good selling opportunity, but a break-up through the top trend line at $16.46 will give a strong buy signal and a trend shift may be expected. Given the current horizontal trend you can expect Orange with 90% probability to be traded between $14.47 and $16.17 at the end of this period with 90% probability. 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 roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Orange holds buy signals from both short- and long-term moving averages. In addition, 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 $16.13 and $15.38. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Thursday March 21, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
The stock holds a RSI14 at 80 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
Orange finds support from accumulated volume at $16.03.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.13 (0.80%) between high and low. For the last week, the stock has had a daily average volatility of 0.81%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stoploss: $15.52 (-4.31%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a sell signal from pivot top found 1 days ago.)
Very Low Low Medium High Very High
Orange 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.