Insteel Industries Stock Forecast
About Chart
Golden Star
The Golden Star is a refined bullish signal based on the Golden Cross, developed by Jim Stromberg, incorporating additional time frame-specific moving averages and precise price line crossings. This signal is effective for liquid stocks, highlighting short-term upward momentum.
Death Star
The Death Star, developed by Jim Stromberg, is the bearish counterpart to the Golden Star, serving as a sell signal. It is triggered by specific moving average crossings on the price line, indicating a likely prolonged decline in the stock.
Golden Cross
The Golden Cross is a bullish signal where the short-term moving average crosses above the long-term moving average, indicating potential upward momentum.
Death Cross
The Death Cross is a bearish signal where the short-term moving average crosses below the long-term moving average, indicating potential downward momentum.
Pivot Bottom
A Pivot Bottom is a significant low point identified by algorithms developed by StockInvest.us. While it may indicate a short-term directional change, it does not necessarily imply a complete trend reversal. Pivot Bottoms are marked as green circles on the price line.
Pivot Top
A Pivot Top represents a significant high point identified by algorithms developed by StockInvest.us. Similar to Pivot Bottoms, it may suggest a short-term directional change within the main trend, rather than a full trend reversal. Pivot Tops are marked as red circles on the price line.
RSI Oversold
RSI oversold indicates that a stock has declined significantly and may be undervalued, potentially presenting a buying opportunity. This condition is marked by a green line on the chart but should be confirmed with other indicators before taking action.
RSI Overbought
RSI overbought suggests that a stock has risen rapidly and may be due for a pullback. It is marked by a red line on the chart, signaling increased risk. This doesn’t necessarily mean it’s time to sell, but it’s important to monitor closely.
Accumulated Volume
The bars indicate how much stock has been traded on each price during the chart period.
Buy Signal (MA)
Buy signal from moving average indicating potential upward movement.
Sell Signal (MA)
Sell signal from moving average indicating potential downward movement.
Stock Analysis |
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Risk Assessment |
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Insteel Industries stock upgraded to Buy Candidate
(Updated on Nov 08, 2024)
Buy or Hold candidate since Nov 06, 2024
Loss -0.47%
The Insteel Industries stock price gained 1.69% on the last trading day (Friday, 8th Nov 2024), rising from $29.37 to $29.87. During the last trading day the stock fluctuated 1.80% from a day low at $29.37 to a day high of $29.90. The price has been going up and down for this period, and there has been a 7.35% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 18 thousand more shares were traded than the day before. In total, 87 thousand shares were bought and sold for approximately $2.59 million.
The stock lies the upper part of a wide and falling 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 $29.98 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -16.15% during the next 3 months and, with a 90% probability hold a price between $21.50 and $25.14 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.
IIIN Signals & Forecast
Mostly positive signals in the chart today. The Insteel Industries 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 $28.35 and $29.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, October 21, 2024, and so far it has risen 10.98%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Insteel Industries stock
On the downside, the stock finds support just below today's level from accumulated volume at $28.05 and $27.35. 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, Insteel Industries finds support just below today's level at $28.05. If this is broken, then the next support from accumulated volume will be at $27.35 and $27.07.
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 $0.530 between high and low, or 1.80%. For the last week, the stock has had daily average volatility of 2.66%.
Our recommended stop-loss: $28.59 (-4.26%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (IIIN) For The Upcoming Trading Day Of Monday 11th
For the upcoming trading day on Monday, 11th we expect Insteel Industries to open at $29.71, and during the day (based on 14 day Average True Range), to move between $28.96 and $30.77, which gives a possible trading interval of +/-$0.90 (+/-3.01%) up or down from last closing price. If Insteel Industries takes out the full calculated possible swing range there will be an estimated 6.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $30.45 (1.96%) than the support at $28.05 (6.08%), 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 Insteel Industries stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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.
Current score: 3.132 Buy Candidate Upgraded
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Predicted Fair Opening Price
Predicted fair opening price on November 11, 2024 - $29.71 ( 0.513%).Trading levels for IIIN
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 30.24 | 1.26% |
R2 | 30.04 | 0.583% |
R1 | 29.91 | 0.164% |
Price | 29.87 | |
S1 | 29.51 | -1.19% |
S2 | 29.38 | -1.61% |
S3 | 29.18 | -2.29% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 31.47 | 5.37% |
R2 | 30.93 | 3.57% |
R1 | 30.45 | 1.96% |
Price | 29.87 | |
S1 | 28.05 | -6.08% |
S2 | 27.35 | -8.42% |
S3 | 27.07 | -9.36% |
IIIN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 13, 2024 | Sep 13, 2024 | Sep 27, 2024 | $0.0300 | 0.0972% |
2 | Jun 14, 2024 | Jun 14, 2024 | Jun 28, 2024 | $0.0300 | 0.0969% |
3 | Mar 14, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.0300 | 0.0785% |
4 | Nov 14, 2023 | Dec 07, 2023 | Dec 22, 2023 | $0.120 | 0.314% |
5 | Aug 15, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.0300 | 0.0924% |
FAQ
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