Big movements in Imperial Petroleum Inc. stock price on Wednesday moving 43.67% between high and lowStockInvest.us, 3 months ago
The Imperial Petroleum Inc. stock price gained 27.12% on the last trading day (Wednesday, 8th Jun 2022), rising from $0.59 to $0.75. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 43.67% from a day low at $0.61 to a day high of $0.88. The price has risen in 6 of the last 10 days and is up by 94.81% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 174 million more shares were traded than the day before. In total, 254 million shares were bought and sold for approximately $190.31 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Due to the high volatility and the trend direction we are not able to give forecast range for this stock.
The Imperial Petroleum Inc. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.56 and $0.72. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 25, 2022, and so far it has risen 95.01%. 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 is rising along with the price. This is considered to be a good technical signal.
On the downside, the stock finds support just below today's level from accumulated volume at $0.69 and $0.67.There is 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, Imperial Petroleum Inc. finds support just below today's level at $0.69. If this is broken, then the next support from accumulated volume will be at $0.67 and $0.59.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.27 between high and low, or 43.67%. For the last week, the stock has had a daily average volatility of 20.73%.
Imperial Petroleum Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.Check full Imperial Petroleum forecast and analysis here.