Iheartmedia Inc Stock Forecast
Weaker technical forecast for Iheartmedia Inc as stock downgraded to Hold/Accumulate.
(Updated on Apr 25, 2024)
The Iheartmedia Inc stock price fell by -0.474% on the last day (Thursday, 25th Apr 2024) from $2.11 to $2.10. During the last trading day the stock fluctuated 4.65% from a day low at $2.05 to a day high of $2.14. The price has fallen in 8 of the last 10 days and is down by -7.08% for this period. Volume has increased on the last day by 31 thousand 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, 573 thousand shares were bought and sold for approximately $1.20 million.
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 -26.98% during the next 3 months and, with a 90% probability hold a price between $1.15 and $1.64 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.
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IHRT Signals & Forecast
The Iheartmedia Inc 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 $2.01 and $2.08. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 25, 2024, and so far it has risen 12.30%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Iheartmedia Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Iheartmedia Inc stock
Iheartmedia Inc finds support from accumulated volume at $2.07 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0950 between high and low, or 4.65%. For the last week, the stock has had daily average volatility of 6.21%.
Our recommended stop-loss: $2.01 (-4.47%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (IHRT) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Iheartmedia Inc to open at $2.10, and during the day (based on 14 day Average True Range), to move between $1.96 and $2.24, which gives a possible trading interval of +/-$0.145 (+/-6.89%) up or down from last closing price. If Iheartmedia Inc takes out the full calculated possible swing range there will be an estimated 13.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.12 (0.95%) than the support at $2.07 (1.43%), 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 Iheartmedia Inc stock A Buy?
Iheartmedia 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.
Current score: 0.571 Hold/Accumulate Downgraded
Predicted Opening Price for Iheartmedia Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $2.10 ( 0.238%) | $2.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IHRT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.19 | 4.29 % | |
| R2 | 2.15 | 2.56 % | ||
| R1 | 2.13 | 1.49 % | ||
| Current price: | 2.10 | |||
| Support | S1 | 2.06 | -1.97 % | |
| S2 | 2.04 | -3.03 % | ||
| S3 | 2.00 | -4.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.26 | 7.62 % | |
| R2 | 2.14 | 1.90 % | ||
| R1 | 2.12 | 0.95 % | ||
| Current price | 2.10 | |||
| Support | S1 | 2.07 | -1.43% | |
| S2 | 2.01 | -4.29% | ||
| S3 | 1.93 | -8.10% |
FAQ
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