Insulet Corporation Stock Forecast
Insulet Corporation stock downgraded to Sell Candidate
(Updated on May 03, 2024)
The Insulet Corporation stock price gained 0.582% on the last trading day (Friday, 3rd May 2024), rising from $173.42 to $174.43. During the last trading day the stock fluctuated 3.53% from a day low at $174.11 to a day high of $180.25. The price has risen in 6 of the last 10 days and is up by 4.92% over the past 2 weeks. Volume fell on the last day by -28 thousand shares and in total, 589 thousand shares were bought and sold for approximately $102.80 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $167.61, a level that may pose a second chance to hit a runner. According to fan-theory $189.30 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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PODD Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -4.07%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The Insulet Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $170.10 and $169.04. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Insulet Corporation stock
Insulet Corporation finds support from accumulated volume at $169.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $6.14 between high and low, or 3.53%. For the last week, the stock has had daily average volatility of 3.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PODD) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Insulet Corporation to open at $176.26, and during the day (based on 14 day Average True Range), to move between $168.87 and $179.99, which gives a possible trading interval of +/-$5.56 (+/-3.19%) up or down from last closing price. If Insulet Corporation takes out the full calculated possible swing range there will be an estimated 6.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $175.49 (0.61%) than the support at $169.25 (2.97%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Insulet Corporation will release earnings AMC on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.390. We will update the financials statements for Insulet Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.30% in the first trading day after earnings release.
Is Insulet Corporation stock A Buy?
Insulet Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.027 Sell Candidate Downgraded
Predicted Opening Price for Insulet Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $176.26 ( 1.05%) | $174.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PODD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 182.40 | 4.57 % | |
| R2 | 180.06 | 3.23 % | ||
| R1 | 178.61 | 2.40 % | ||
| Current price: | 174.43 | |||
| Support | S1 | 173.92 | -0.294 % | |
| S2 | 172.47 | -1.13 % | ||
| S3 | 170.12 | -2.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 197.14 | 13.02 % | |
| R2 | 184.21 | 5.61 % | ||
| R1 | 175.49 | 0.608 % | ||
| Current price | 174.43 | |||
| Support | S1 | 169.25 | -2.97% | |
| S2 | 168.83 | -3.21% | ||
| S3 | 166.62 | -4.48% |
FAQ
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