Innospec Inc. Stock Forecast
Red day on Friday for Innospec Inc. stock after losing 0.637%
(Updated on May 17, 2024)
The Innospec Inc. stock price fell by -0.637% on the last day (Friday, 17th May 2024) from $130.33 to $129.50. During the last trading day the stock fluctuated 1.38% from a day low at $129.06 to a day high of $130.84. The price has risen in 7 of the last 10 days and is up by 6.4% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -10 thousand shares and in total, 74 thousand shares were bought and sold for approximately $9.59 million.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $131.62 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Innospec Inc. stock with a 90% probability to be traded between $121.25 and $132.73 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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IOSP Signals & Forecast
The Innospec Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $129.90. On a fall, the stock will find some support from the long-term average at approximately $124.23. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -1.58%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Innospec Inc. stock
Innospec Inc. finds support from accumulated volume at $125.97 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 $1.78 between high and low, or 1.38%. For the last week, the stock has had daily average volatility of 2.04%.
Our recommended stop-loss: $124.13 (-4.15%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (IOSP) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Innospec Inc. to open at $129.80, and during the day (based on 14 day Average True Range), to move between $126.97 and $132.03, which gives a possible trading interval of +/-$2.53 (+/-1.95%) up or down from last closing price. If Innospec Inc. takes out the full calculated possible swing range there will be an estimated 3.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $130.33 (0.64%) than the support at $125.97 (2.73%), 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 Innospec Inc. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Innospec Inc. stock to perform well in the short-term period.
Current score: 3.322 Buy Candidate Unchanged
Predicted Opening Price for Innospec Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $129.80 ( 0.232%) | $129.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IOSP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 131.58 | 1.61 % | |
| R2 | 130.90 | 1.08 % | ||
| R1 | 130.48 | 0.757 % | ||
| Current price: | 129.50 | |||
| Support | S1 | 129.12 | -0.293 % | |
| S2 | 128.70 | -0.618 % | ||
| S3 | 128.02 | -1.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 131.58 | 1.61 % | |
| R2 | 131.22 | 1.33 % | ||
| R1 | 130.33 | 0.641 % | ||
| Current price | 129.50 | |||
| Support | S1 | 125.97 | -2.73% | |
| S2 | 122.07 | -5.74% | ||
| S3 | 121.50 | -6.18% |
IOSP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 17, 2024 | May 17, 2024 | May 31, 2024 | $0.720 | 0.556% |
| 2 | Nov 06, 2023 | Nov 17, 2023 | Nov 27, 2023 | $0.720 | 0.679% |
| 3 | May 02, 2023 | May 19, 2023 | May 31, 2023 | $0.690 | 0.747% |
| 4 | May 10, 2023 | Nov 18, 2022 | Nov 28, 2022 | $0.650 | 0.595% |
| 5 | May 03, 2022 | May 16, 2022 | May 26, 2022 | $0.630 | 0.616% |
FAQ
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