OLLI Price Prediction Next Week
Technical Analysis: OLLI's stock shows mixed signals in recent trading sessions. The RSI-14 at 53.60 indicates a neutral momentum, while the MACD (-0.45) suggests a slight bearish trend. The stock is currently trading between its key moving averages, with SMA-20 at 109.00 and SMA-60 at 106.80.
Price Targets and Support/Resistance Levels:
- Fibonacci levels indicate:
- Resistance 1: $108.76
- Resistance 2: $110.65
- Support 1: $102.63
- Support 2: $100.74
News Impact: Recent analyst actions have turned cautious. Jefferies downgraded OLLI from Buy to Hold, lowering the price target from $125 to $111, citing valuation concerns. The stock closed at $107.63 following this downgrade, showing immediate market reaction to the news.
Volume Analysis: The latest trading session showed a volume of 842,225 shares, with the stock closing at $109.28, representing a +0.86% gain. The post-market movement showed an additional +0.22% increase, suggesting mild positive sentiment.
Bollinger Bands Analysis:
- Middle Band (20-day SMA): $109.00
- Upper Band: $120.13
- Lower Band: $97.88
- Current price position at 0.51 of the band width indicates moderate volatility
Price Prediction for Next Week: Based on technical indicators and recent analyst actions:
- Expected price range: $106.50 - $111.00
- Most likely scenario: Sideways movement with slight bearish bias
- Key resistance: $110.65 (Fibonacci R2)
- Key support: $106.80 (SMA-60)
Trading Recommendation: SELL. The recent analyst downgrade, combined with technical indicators showing neutral to slightly bearish momentum, suggests limited upside potential in the near term. The stock is trading near its recent highs, and the risk-reward ratio appears unfavorable for new long positions.
OLLI Similar Chart Price Prediction
The price of OLLI is predicted to go up -19.01%, based on the high correlation periods with UMC. The similarity of these two price pattern on the periods is 93.18%.
OLLI
UMC
Down: -19.01%Similarity: 93.18%
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OLLI Analyst's Forecast
Anthony Chukumba
Loop Capital
Strong Buy
2024-12-23
Price Target
$120 → $130
Upside
+10.57%
Loop Capital raised the firm's price target on Ollie's Bargain Outlet to $130 from $120 and keeps a Buy rating on the shares. After visiting the company's location in the Chicago area, the firm notes that it continue to be very impressed by Ollie's merchandising, most notably compelling national brand items in a wide variety of product categories, the analyst tells investors in a research note. The "most eye-opening" discovery however was the diverted Big Lots merchandise, which represents the "first significant sign of the benefits" of its bankruptcy filing and mass store closings, the firm added.
Steven Zaccone
Citigroup
Strong Sell → Strong Buy
2024-12-18
Price Target
$64 → $133
Upside
+16.17%
Edward Kelly
Wells Fargo
Hold
2024-12-11
Price Target
$95 → $105
Downside
-7.49%
