ONB Price Prediction Next Week
Technical Analysis
Based on the technical analysis of ONB's price movement, the stock shows the following patterns:
- Recent price range: $15.80-$16.16
- Trading volume: Above average at 2.3M shares
- RSI (14): 57.85 indicating neutral momentum
- MACD: Slightly positive at 0.45 with bearish divergence
- Fibonacci levels:
- Resistance: $24.39 (R1), $24.73 (R2)
- Support: $23.28 (S1), $22.94 (S2)
News Impact
Recent news indicates:
- Old National Bancorp's preferred stock (ONBPP) declared a dividend of $0.4375
- The common shares (ONB) experienced a 1.8% decline during recent trading
- ETF outflow alert reported for IWN which includes ONB holdings
Price Prediction for Next Week
Based on technical indicators and recent market behavior:
Target Price Range:
- Bullish scenario: $16.30-$16.45 (40% probability)
- Bearish scenario: $15.70-$15.85 (30% probability)
- Consolidation: $15.90-$16.10 (30% probability)
Trading Recommendation
SELL with the following rationale:
- Bearish MACD divergence suggests potential downward momentum
- Recent ETF outflows could create selling pressure
- Stock is trading near resistance levels with weakening momentum
- Set stop-loss at $16.25 to protect against upside risk
ONB Similar Chart Price Prediction
The price of ONB is predicted to go up -3.1%, based on the high correlation periods with WFC. The similarity of these two price pattern on the periods is 98.51%.
ONB
WFC
Down: -3.1%Similarity: 98.51%
ONB Revenue Forecast
ONB EPS Forecast
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ONB Analyst's Forecast
David Long
Raymond James
Hold → Strong Buy
2024-11-26
Price Target
$28
Upside
+21%
Raymond James upgraded Old National Bancorp to Strong Buy from Market Perform with a $28 price target.
Jon Arfstrom
RBC Capital
Hold
2024-11-26
Price Target
$24 → $25
Upside
+8.04%
Jared Shaw
Barclays
Buy
2024-11-26
Price Target
$24 → $26
Upside
+12.36%
