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High volatility in Imperial Petroleum Inc. stock price on Monday which ended trading at $0.79

StockInvest.us, 3 months ago

Imperial Petroleum

The Imperial Petroleum Inc. stock price fell by -10.77% on the last day (Monday, 13th Jun 2022) from $0.88 to $0.79. During the day the stock fluctuated 26.03% from a day low at $0.69 to a day high of $0.87. The price has risen in 6 of the last 10 days and is up by 43.61% over the past 2 weeks. Volume has increased on the last day by 36 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 171 million shares were bought and sold for approximately $134.24 million.

The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.85 will firstly indicate a slower falling rate, but may be the first sign of a trend shift.Given the current short-term trend, the stock is expected to fall -67.51% during the next 3 months and, with a 90% probability hold a price between $0.0152 and $0.28 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

Imperial Petroleum

The Imperial Petroleum 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 $0.70 and $0.69. A breakdown below any of these levels will issue sell signals. 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 Friday, June 10, 2022, and so far it has fallen -10.77%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Imperial Petroleum Inc. finds support from accumulated volume at $0.77 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.18 between high and low, or 26.03%. For the last week, the stock has had a daily average volatility of 27.03%.

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.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Check full Imperial Petroleum forecast and analysis here.