Insight Enterprises Stock Forecast

Green day on Friday for Insight Enterprises stock after gaining 1.15%
(Updated on May 10, 2024)

NSIT Signals & Forecast

Mostly positive signals in the chart today. The Insight Enterprises 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 $197.54 and $186.27. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 19.09%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The stock had a Golden Star Signal on Thursday, April 04, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Insight Enterprises stock

On the downside, the stock finds support just below today's level from accumulated volume at $182.74 and $182.57. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Insight Enterprises finds support just below today's level at $182.74. If this is broken, then the next support from accumulated volume will be at $182.57 and $173.22.

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 $3.56 between high and low, or 1.75%. For the last week, the stock has had daily average volatility of 2.34%.

Since the Insight Enterprises has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $200.01 (-3.04%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (NSIT) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Insight Enterprises to open at $205.33, and during the day (based on 14 day Average True Range), to move between $201.18 and $211.38, which gives a possible trading interval of +/-$5.10 (+/-2.47%) up or down from last closing price. If Insight Enterprises takes out the full calculated possible swing range there will be an estimated 4.94% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $182.74, some $23.54 (11.41%) from the current price of $206.28, our system finds the risk reward attractive.

Is Insight Enterprises 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 Insight Enterprises stock to perform well in the short-term period.

Current score: 4.501 Buy Candidate Unchanged

Predicted Opening Price for Insight Enterprises of Monday, May 13, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.