14-day Premium Trial Subscription Try For FreeTry Free
RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis AI Analysis of IIIN
Powered by GPT-4o
Stock Analysis
Risk Assessment
Trading Strategy
PDF

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

Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.

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


# Declaration Date 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

What is the symbol for Insteel Industries Stock and on which exchange is it traded?
The symbol for Insteel Industries is IIIN and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Insteel Industries Stock?
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.

How to buy Insteel Industries Stock?
Insteel Industries Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Insteel Industries Stock.

What's the current price of Insteel Industries Stock?
As of the end of day on the Nov 08, 2024, the price of an Insteel Industries (IIIN) share was $29.87.

What is the 52-week high and low for Insteel Industries Stock?
The 52-week high for Insteel Industries Stock is $39.38 and the 52-week low is $26.74.

What is the market capitalization of Insteel Industries Stock?
As of the Nov 08, 2024, the market capitalization of Insteel Industries is 580.843M.

When is the next earnings date for Insteel Industries?
The upcoming earnings date for Insteel Industries is Jan 16, 2025.
Click to get the best stock tips daily for free!
ABOUT INSTEEL INDUSTRIES
Insteel Industries
Insteel Industries, Inc., together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers prestressed concrete strand (PC strand) and welded wire reinforcement (WWR) products. Its PC strand is a seven-wire strand that is used to impart compression forces into precast concrete elements and structures providing reinforcement for bridges, parking decks, buildings, an...
GOLDEN STAR
Ticker Change Signal Date
WEC
$95.99
1.68% Nov 06
K
$80.97
0.0618% Nov 06
AGR
$35.59
0.93% Nov 06
AMRX
$8.50
2.71% Nov 06
F
FALN
$26.99
0.704% Nov 06

Top Fintech Company

StockInvest.us featured in The Global Fintech Index 2020 as the top Fintech company of the country.

Full report by FINDEXABLE