OXT.X sees its 50-day moving average cross bearishly below its 200-day moving average
The 50-day moving average for OXT.X moved below the 200-day moving average on May 26, 2024. This could be a long-term bearish signal for the stock as the stock shifts to a downward trend.
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on June 07, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on OXT.X as a result. In 63 of 120 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 52%.
The Moving Average Convergence Divergence Histogram (MACD) for OXT.X turned negative on June 08, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 59 similar instances when the indicator turned negative. In 34 of the 59 cases the stock turned lower in the days that followed. This puts the odds of success at 58%.
OXT.X moved below its 50-day moving average on June 07, 2024 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for OXT.X crossed bearishly below the 50-day moving average on June 11, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In 8 of 17 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 47%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where OXT.X declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 54%.
$OXT
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