OM.X in -4.84% downward trend, declining for three onsecutive days on September 15, 2024

Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where OM.X declined for three days, in 210 of 349 cases, the price declined further within the following month. The odds of a continued downward trend are 60%.

Technical Analysis (Indicators)

Bearish Trend Analysis

The 10-day RSI Indicator for OM.X moved out of overbought territory on September 13, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 45 similar instances where the indicator moved out of overbought territory. In 20 of the 45 cases, the stock moved lower in the following days. This puts the odds of a move lower at 44%.

The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 4 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

OM.X broke above its upper Bollinger Band on September 10, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

$OM
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