OM.X in downward trend: price dove below 50-day moving average on May 22, 2024

OM.X moved below its 50-day moving average on May 22, 2024 date and that indicates a change from an upward trend to a downward trend. In 21 of 33 similar past instances, the stock price decreased further within the following month. The odds of a continued downward trend are 64%.

Technical Analysis (Indicators)

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on May 23, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on OM.X as a result. In 58 of 99 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 59%.

The Moving Average Convergence Divergence Histogram (MACD) for OM.X turned negative on May 23, 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 50 similar instances when the indicator turned negative. In 28 of the 50 cases the stock turned lower in the days that followed. This puts the odds of success at 56%.

The 10-day moving average for OM.X crossed bearishly below the 50-day moving average on May 13, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In 8 of 13 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 62%.

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 62%.

$OM

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