Inception Growth Acquisition Limited Stock Forecast
Is Inception Growth Acquisition Limited stock still a buy after falling -22.76% on Tuesday?
(Updated on Jun 25, 2024)
The Inception Growth Acquisition Limited stock price fell by -22.76% on the last day (Tuesday, 25th Jun 2024) from $0.0949 to $0.0733. During the last trading day the stock fluctuated 0.136% from a day low at $0.0733 to a day high of $0.0734. The price has been going up and down for this period, and there has been a -18.92% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -36 thousand shares and in total, 743 shares were bought and sold for approximately $54.46 .
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. Given the current short-term trend, the stock is expected to fall -17.54% during the next 3 months and, with a 90% probability hold a price between $0.0034 and $0.112 at the end of this 3-month period.
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IGTAW Signals & Forecast
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 Inception Growth Acquisition Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0771 and $0.0863. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -54.19%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Inception Growth Acquisition Limited stock
Inception Growth Acquisition Limited finds support from accumulated volume at $0.0729 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 $0.0001 between high and low, or 0.136%. For the last week the stock has had daily average volatility of 15.53%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IGTAW) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Inception Growth Acquisition Limited to open at $0.0733, and during the day (based on 14 day Average True Range), to move between $0.0542 and $0.0924, which gives a possible trading interval of +/-$0.0191 (+/-26.11%) 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 52.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0735 (0.27%) than the support at $0.0729 (0.55%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Inception Growth Acquisition Limited stock A Buy?
Inception Growth Acquisition Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -6.424 Strong Sell Candidate Downgraded
Predicted Opening Price for Inception Growth Acquisition Limited of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$0.0733 ( 0.0455%) | $0.0733 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IGTAW
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0734 | 0.182% |
R2 | 0.0734 | 0.130% |
R1 | 0.0734 | 0.0976% |
Price | 0.0733 | |
S1 | 0.0733 | -0.0066% |
S2 | 0.0733 | -0.0388% |
S3 | 0.0732 | -0.0910% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0900 | 22.78% |
R2 | 0.0860 | 17.33% |
R1 | 0.0735 | 0.273% |
Price | 0.0733 | |
S1 | 0.0729 | -0.546% |
S2 | 0.0661 | -9.82% |
S3 | 0.0600 | -18.14% |
FAQ
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