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Imperial Petroleum Inc. stock upgraded from Strong Sell Candidate to Sell Candidate after Wednesday trading session.

StockInvest.us, 3 months ago

Imperial Petroleum

No changes to the price of Imperial Petroleum Inc. stock on the last trading day (Wednesday, 15th Jun 2022). During the day the stock fluctuated 0% from a day low at $0.62 to a day high of $0.62. The price has risen in 6 of the last 10 days and is up by 27.92% over the past 2 weeks.

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. 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

A buy signal was issued from a pivot bottom point on Tuesday, June 14, 2022, and so far it has fallen 0%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Imperial Petroleum Inc. stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1.48 and $1.33. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

On the downside, the stock finds support just below today's level from accumulated volume at $0.55 and $0.52.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 $0.55. If this is broken, then the next support from accumulated volume will be at $0.52 and $0.50.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had a daily average volatility of 22.83%

Imperial Petroleum Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Check full Imperial Petroleum forecast and analysis here.