Model N Inc Stock Forecast
Green day on Friday for Model N Inc stock after gaining 0.0672%
(Updated on May 17, 2024)
The Model N Inc stock price gained 0.0672% on the last trading day (Friday, 17th May 2024), rising from $29.78 to $29.80. During the last trading day the stock fluctuated 0.134% from a day low at $29.78 to a day high of $29.82. The price has been going up and down for this period, and there has been a -0.03% loss for the last 2 weeks. Volume fell on the last day by -27 thousand shares and in total, 572 thousand shares were bought and sold for approximately $17.04 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 stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $29.42 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 25.62% during the next 3 months and, with a 90% probability hold a price between $36.96 and $40.98 at the end of this 3-month period.
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MODN Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -0.101%. 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 Model N Inc 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 $29.77 and $29.35. 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 Model N Inc stock
Model N Inc finds support from accumulated volume at $29.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0400 between high and low, or 0.134%. For the last week the stock has had daily average volatility of 0.158%.
Our recommended stop-loss: $28.01 (-6.00%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 26 days ago.)
Trading Expectations (MODN) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Model N Inc to open at $29.80, and during the day (based on 14 day Average True Range), to move between $29.61 and $29.99, which gives a possible trading interval of +/-$0.186 (+/-0.62%) up or down from last closing price. If Model N Inc takes out the full calculated possible swing range there will be an estimated 1.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $29.81 (0.03%) than the support at $29.70 (0.34%), 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.
Is Model N Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Model N Inc stock to perform well in the short-term.
Current score: 3.534 Buy Candidate Unchanged
Predicted Opening Price for Model N Inc of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $29.80 ( 0%) | $29.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MODN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.84 | 0.134 % | |
| R2 | 29.82 | 0.0830 % | ||
| R1 | 29.82 | 0.0513 % | ||
| Current price: | 29.80 | |||
| Support | S1 | 29.78 | -0.0513 % | |
| S2 | 29.78 | -0.0830 % | ||
| S3 | 29.76 | -0.134 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.83 | 0.101 % | |
| R2 | 29.82 | 0.0671 % | ||
| R1 | 29.81 | 0.0336 % | ||
| Current price | 29.80 | |||
| Support | S1 | 29.70 | -0.336% | |
| S2 | 29.66 | -0.470% | ||
| S3 | 29.65 | -0.503% |
FAQ
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