OTIS Price Prediction Next Week
Based on the provided data and technical analysis, here is the prediction for OTIS stock for the next trading week:
Technical Analysis
The stock is currently showing a bullish trend with the following key technical levels:
- Support levels: $91.79, $91.16
- Resistance levels: $97.44, $98.28
- RSI(14) at 61.16 indicates moderate bullish momentum without being overbought
- MACD at -0.24 suggests slight bearish divergence in short-term
News Impact Analysis
A significant positive catalyst is the recently announced $2 billion share repurchase program, effective January 16, 2025, which demonstrates management's confidence in the company's future and should provide price support.
Price Targets for Next Week
Based on Fibonacci levels and volume analysis:
- Bullish scenario (60% probability): $97.82-98.28
- Base case (30% probability): $96.21-97.10
- Bearish scenario (10% probability): $91.79-93.22
Trading Strategy
The stock is expected to trade between $95.23 and $98.11 next week. With strong support at $91.79 and recent positive momentum, OTIS appears positioned for continued upward movement.
Price Prediction
Target price: $97.80 by end of next week
Trading Recommendation
BUY with entry point at current level ($96.67) or on pullbacks to $96.20. Set stop-loss at $93.22 to limit downside risk.
Key reasons:
- Strong technical support levels
- Positive momentum indicators
- Share buyback program providing price support
- Low volatility stock showing controlled movements
- Current price closer to resistance than support suggests potential breakout
OTIS Similar Chart Price Prediction
The price of OTIS is predicted to go up -14.06%, based on the high correlation periods with VIR. The similarity of these two price pattern on the periods is 96.98%.
OTIS
VIR
Down: -14.06%Similarity: 96.98%
OTIS Revenue Forecast
OTIS EPS Forecast
OTIS FAQs
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OTIS VS S&P500
Otis' installed base business model-which boasts the largest installed base of elevators globally-drives strong free cash flow generation through the economic cycle.
We expect the increasing route density of Otis' service network to drive further expansion to its industry-leading profit margin and strengthen its cost advantage.
Otis will benefit from a globally aging installed elevator base. Elevator modernization is a long-term growth opportunity with about half of Europe's and North America's elevator installations greater than 20 years old.
OTIS Analyst's Forecast
Stephen Tusa
JP Morgan
Hold
Price Target
$112 → $108
Upside
+17.07%
JPMorgan lowered the firm's price target on Otis Worldwide to $108 from $112 and keeps a Neutral rating on the shares. The firm updated models in the electrical equipment and multi-industry space ahead of the Q4 reports.
Julian Mitchell
Barclays
Sell
Price Target
$94 → $91
Upside
-0.86%
Nigel Coe
Wolfe Research
Hold → Sell
Price Target
n/a
Upside
0%