Volatile ride for InnerScope Hearing Technologies, Inc. stock price on Wednesday moving between $0.0202 and $0.0298StockInvest.us, 1 month ago
The InnerScope Hearing Technologies, Inc. stock price fell by -0.68% on the last day (Wednesday, 17th Aug 2022) from $0.0221 to $0.0220. During the last trading day the stock fluctuated 47.52% from a day low at $0.0202 to a day high of $0.0298. The price has risen in 7 of the last 10 days and is up by 70.16% over the past 2 weeks. Volume has increased on the last day by 224 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, 490 million shares were bought and sold for approximately $10.75 million.
The stock lies in the upper part of a very wide and strong rising 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 $0.0223 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 162.39% during the next 3 months and, with a 90% probability hold a price between $0.0293 and $0.0586 at the end of this 3-month period.
The InnerScope Hearing Technologies, 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 $0.0176 and $0.0103. 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 Tuesday, August 16, 2022, and so far it has fallen -0.68%. 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.
On the downside, the stock finds support just below today's level from accumulated volume at $0.0170.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0 may give a huge drop in the stock price.
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 $0.0096 between high and low, or 47.52%. For the last week, the stock has had a daily average volatility of 25.68%.
The InnerScope Hearing Technologies, Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for InnerScope Hearing Technologies, Inc. stock to perform well in the short-term.We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.Check full InnerScope Hearing Technologies, Inc. forecast and analysis here.