Inception Growth Acquisition Limited Stock Forecast
Inception Growth Acquisition Limited stock price up more than 68.24% on Thursday
(Updated on Jun 20, 2024)
The Inception Growth Acquisition Limited stock price gained 68.24% on the last trading day (Thursday, 20th Jun 2024), rising from $0.170 to $0.286. During the last trading day the stock fluctuated 0% from a day low at $0.286 to a day high of $0.286. The price has fallen in 4 of the last 10 days but is still up by 3.25% over the past 2 weeks. Volume fell on the last day by -10 thousand shares and in total, 1 thousand shares were bought and sold for approximately $286.00 . You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a very wide and weak 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 $0.309 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 7.75% during the next 3 months and, with a 90% probability hold a price between $0.176 and $0.333 at the end of this 3-month period.
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IGTAR Signals & Forecast
A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -4.35%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Inception Growth Acquisition Limited 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 $0.186 and $0.208. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Inception Growth Acquisition Limited stock
Inception Growth Acquisition Limited finds support from accumulated volume at $0.277 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.93%.
Our recommended stop-loss: $0.273 (-4.57%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 33 days ago.)
Trading Expectations (IGTAR) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Inception Growth Acquisition Limited to open at $0.286, and during the day (based on 14 day Average True Range), to move between $0.254 and $0.318, which gives a possible trading interval of +/-$0.0318 (+/-11.13%) up or down from last closing price. If Inception Growth Acquisition Limited takes out the full calculated possible swing range there will be an estimated 22.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.277 (3.15%) than the resistance at $0.299 (4.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Inception Growth Acquisition Limited stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.297 Buy Candidate Upgraded
Predicted Opening Price for Inception Growth Acquisition Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $0.286 ( 0%) | $0.286 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IGTAR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.286 | - |
| R2 | 0.286 | - |
| R1 | 0.286 | - |
| Price | 0.286 | |
| S1 | 0.286 | - |
| S2 | 0.286 | - |
| S3 | 0.286 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0.299 | 4.55% |
| Price | 0.286 | |
| S1 | 0.277 | -3.15% |
| S2 | 0.250 | -12.59% |
| S3 | 0.234 | -18.29% |
IGTAR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 15, 2022 | Mar 15, 2022 | Mar 15, 2022 | $0.285 | 207.73% |
FAQ
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