Iheartmedia Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Volatile ride for Iheartmedia Inc stock price on Tuesday moving between $1.05 and $1.24
(Updated on Jul 02, 2024)
The Iheartmedia Inc stock price gained 9.17% on the last trading day (Tuesday, 2nd Jul 2024), rising from $1.09 to $1.19. During the last trading day the stock fluctuated 18.10% from a day low at $1.05 to a day high of $1.24. The price has fallen in 5 of the last 10 days but is still up by 5.31% over the past 2 weeks. Volume fell on the last day by -187 thousand shares and in total, 891 thousand shares were bought and sold for approximately $1.06 million. 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 stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.94, a level that may pose a second chance to hit a runner. According to fan-theory $1.60 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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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 $1.07 and $1.09. A breakdown below any of these levels will issue sell signals. 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, June 11, 2024, and so far it has fallen -7.03%. 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 also not.
Support, Risk & Stop-loss for Iheartmedia Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.09 and $0.93. There is a 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, Iheartmedia Inc finds support just below today's level at $1.09. If this is broken, then the next support from accumulated volume will be at $0.93 and $0.91.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.190 between high and low, or 18.10%. For the last week the stock has had daily average volatility of 9.88%.
Our recommended stop-loss: $1.14 (-4.22%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 24 days ago.)
Trading Expectations (IHRT) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Iheartmedia Inc to open at $1.16, and during the day (based on 14 day Average True Range), to move between $1.07 and $1.31, which gives a possible trading interval of +/-$0.118 (+/-9.96%) up or down from last closing price. If Iheartmedia Inc takes out the full calculated possible swing range there will be an estimated 19.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.24 (4.20%) than the support at $1.09 (8.40%), 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 negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.731 Hold/Accumulate Upgraded
Predicted Opening Price for Iheartmedia Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $1.16 ( 2.52%) | $1.19 |
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 | |
|---|---|---|
| R3 | 1.35 | 13.45% |
| R2 | 1.28 | 7.35% |
| R1 | 1.23 | 3.58% |
| Price | 1.19 | |
| S1 | 1.09 | -8.62% |
| S2 | 1.04 | -12.39% |
| S3 | 0.97 | -18.49% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.38 | 15.97% |
| R2 | 1.26 | 5.88% |
| R1 | 1.24 | 4.20% |
| Price | 1.19 | |
| S1 | 1.09 | -8.40% |
| S2 | 0.93 | -22.22% |
| S3 | 0.91 | -23.87% |
FAQ
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