OVB Stock Tickeron detected bearish ETF Pattern: Broadening Wedge Ascending on August 02, 2024

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OVB - Overlay Shares Core Bond ETF

Emerged: 08/02/24

Breakout: $20.6

Price: $20.94

Target price: $20.54

OVB's Indicator enters downward trend

The Aroon Indicator for OVB entered a downward trend on November 07, 2024. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 164 similar instances where the Aroon Indicator formed such a pattern. In of the 164 cases the stock moved lower. This puts the odds of a downward move at .

Technical Analysis (Indicators)

Bearish Trend Analysis

The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 52 cases where OVB's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .

OVB moved below its 50-day moving average on October 17, 2024 date and that indicates a change from an upward trend to a downward trend.

The 10-day moving average for OVB crossed bearishly below the 50-day moving average on October 17, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In 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 .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where OVB declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

Bullish Trend Analysis

The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where OVB's RSI Indicator exited the oversold zone, of 35 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Momentum Indicator moved above the 0 level on November 14, 2024. You may want to consider a long position or call options on OVB as a result. In of 81 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for OVB just turned positive on November 07, 2024. Looking at past instances where OVB's MACD turned positive, the stock continued to rise in of 45 cases over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where OVB advanced for three days, in of 339 cases, the price rose further within the following month. The odds of a continued upward trend are .

OVB may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.