Oxford Biomedica Stock Forecast
Weaker technical forecast for Oxford Biomedica as stock downgraded to Buy Candidate.
(Updated on Apr 25, 2024)
The Oxford Biomedica stock price gained 0.686% on the last trading day (Thursday, 25th Apr 2024), rising from £218.50 to £220.00. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.94% from a day low at £212.50 to a day high of £223.00. The price has been going up and down for this period, and there has been a 5.01% gain for the last 2 weeks. Volume fell on the last day by -118 thousand shares and in total, 158 thousand shares were bought and sold for approximately £34.71 million. 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 wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 20.57% during the next 3 months and, with a 90% probability hold a price between £234.27 and £284.27 at the end of this 3-month period.
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OXB.L Signals & Forecast
Mostly positive signals in the chart today. The Oxford Biomedica 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 £209.20 and £201.21. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 15.55%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Oxford Biomedica stock
Oxford Biomedica finds support from accumulated volume at £215.00 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 £10.50 between high and low, or 4.94%. For the last week, the stock has had daily average volatility of 5.18%.
Our recommended stop-loss: £212.87 (-3.24%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (OXB.L) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Oxford Biomedica to open at £218.50, and during the day (based on 14 day Average True Range), to move between £209.93 and £230.07, which gives a possible trading interval of +/-£10.07 (+/-4.58%) up or down from last closing price. If Oxford Biomedica takes out the full calculated possible swing range there will be an estimated 9.16% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £215.00, some £5.00 (2.27%) from the current price of £220.00, our system finds the risk reward attractive.
Earnings coming up
Oxford Biomedica will release earnings BMO on Monday, April 29, 2024. We will update the financials statements for Oxford Biomedica, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.92% in the first trading day after earnings release.
Is Oxford Biomedica stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Oxford Biomedica stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.185 Buy Candidate Downgraded
Predicted Opening Price for Oxford Biomedica of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| £218.50 ( 0.682%) | £220.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OXB.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 229.00 | 4.09 % | |
| R2 | 224.99 | 2.27 % | ||
| R1 | 222.51 | 1.14 % | ||
| Current price: | 220.00 | |||
| Support | S1 | 214.49 | -2.51 % | |
| S2 | 212.01 | -3.63 % | ||
| S3 | 208.00 | -5.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 220.00 | |||
| Support | S1 | 215.00 | -2.27% | |
| S2 | 189.20 | -14.00% | ||
| S3 | 170.80 | -22.36% |
FAQ
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