Oncolytics Biotech Stock Forecast - Daily Balance Of Power
| ONC Stock | CAD 1.26 0.09 6.67% |
Oncolytics Stock Forecast is based on your current time horizon.
Oncolytics |
| Previous Daily Balance Of Power | Daily Balance Of Power | Trend |
| 0.3333 | 1.0 |
| Check Oncolytics Biotech Volatility | Backtest Oncolytics Biotech | Trend Details |
Oncolytics Biotech Trading Date Momentum
| On November 20 2024 Oncolytics Biotech was traded for 1.40 at the closing time. The maximum traded price for the trading interval was 1.45 and the lowest daily price was 1.38 . The daily volume was recorded at 41.1 K. The volume of trading on 20th of November 2024 played a part in the next trading day price drop. The trading delta at closing time to the next closing price was 5.41% . The trading delta at closing time to the closing price today is 10.14% . |
Balance of Power indicator was created by Igor Livshin to predict asset short term price movements or warning signals. If Balance of Power indicator is trended towards the high of its range it will signify that the bulls are in control. On the other hand when the BOP indicator is moving towards the lows of its range it signifies that the bears are in control. If the indicator move from a high positive range to a lower positive range it signifies that the buying pressure is decreasing. Conversely, if the indicator move from a low negative range to a higher negative range it signifies that the selling pressure is decreasing.
| Compare Oncolytics Biotech to competition |
Other Forecasting Options for Oncolytics Biotech
For every potential investor in Oncolytics, whether a beginner or expert, Oncolytics Biotech's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Oncolytics Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Oncolytics. Basic forecasting techniques help filter out the noise by identifying Oncolytics Biotech's price trends.Oncolytics Biotech Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Oncolytics Biotech stock to make a market-neutral strategy. Peer analysis of Oncolytics Biotech could also be used in its relative valuation, which is a method of valuing Oncolytics Biotech by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Oncolytics Biotech Technical and Predictive Analytics
The stock market is financially volatile. Despite the volatility, there exist limitless possibilities of gaining profits and building passive income portfolios. With the complexity of Oncolytics Biotech's price movements, a comprehensive understanding of forecasting methods that an investor can rely on to make the right move is invaluable. These methods predict trends that assist an investor in predicting the movement of Oncolytics Biotech's current price.| Cycle Indicators | ||
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| Momentum Indicators | ||
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| Volatility Indicators | ||
| Volume Indicators |
Oncolytics Biotech Market Strength Events
Market strength indicators help investors to evaluate how Oncolytics Biotech stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Oncolytics Biotech shares will generate the highest return on investment. By undertsting and applying Oncolytics Biotech stock market strength indicators, traders can identify Oncolytics Biotech entry and exit signals to maximize returns.
Oncolytics Biotech Risk Indicators
The analysis of Oncolytics Biotech's basic risk indicators is one of the essential steps in accurately forecasting its future price. The process involves identifying the amount of risk involved in Oncolytics Biotech's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting oncolytics stock prices, we also provide a set of basic risk indicators that can assist in the individual investment decision or help in hedging the risk of your existing portfolios.
| Mean Deviation | 3.08 | |||
| Standard Deviation | 4.44 | |||
| Variance | 19.72 |
Please note, the risk measures we provide can be used independently or collectively to perform a risk assessment. When comparing two potential investments, we recommend comparing similar equities with homogenous growth potential and valuation from related markets to determine which investment holds the most risk.
Pair Trading with Oncolytics Biotech
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Oncolytics Biotech position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Oncolytics Biotech will appreciate offsetting losses from the drop in the long position's value.Moving against Oncolytics Stock
| 0.85 | TSLA | Tesla Inc CDR | PairCorr |
| 0.84 | PYPL | PayPal Holdings CDR | PairCorr |
| 0.59 | GOOG | Alphabet CDR | PairCorr |
| 0.59 | MSFT | Microsoft Corp CDR | PairCorr |
| 0.34 | BA | BOEING CDR | PairCorr |
The ability to find closely correlated positions to Oncolytics Biotech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Oncolytics Biotech when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Oncolytics Biotech - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Oncolytics Biotech to buy it.
The correlation of Oncolytics Biotech is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Oncolytics Biotech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Oncolytics Biotech moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Oncolytics Biotech can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Historical Fundamental Analysis of Oncolytics Biotech to cross-verify your projections. To learn how to invest in Oncolytics Stock, please use our How to Invest in Oncolytics Biotech guide.You can also try the Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.