OM.X in downward trend: price dove below 50-day moving average on November 04, 2024

OM.X moved below its 50-day moving average on November 04, 2024 date and that indicates a change from an upward trend to a downward trend. In 29 of 43 similar past instances, the stock price decreased further within the following month. The odds of a continued downward trend are 67%.

Technical Analysis (Indicators)

Bearish Trend Analysis

The Moving Average Convergence Divergence Histogram (MACD) for OM.X turned negative on October 19, 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 56 similar instances when the indicator turned negative. In 28 of the 56 cases the stock turned lower in the days that followed. This puts the odds of success at 50%.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where OM.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 58%.

$OM
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