Insteel Industries Stock Forecast

Hold candidate since Dec 04, 2024 Loss -0.37%

The Insteel Industries stock price fell by -0.371% on the last day (Thursday, 5th Dec 2024) from $29.65 to $29.54. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.69% from a day low at $29.33 to a day high of $29.82. The price has fallen in 6 of the last 10 days and is down by -0.77% for this period. Volume has increased on the last day by 21 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, 83 thousand shares were bought and sold for approximately $2.47 million.

The stock lies in the middle of a 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 -5.75% during the next 3 months and, with a 90% probability hold a price between $24.46 and $28.99 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.

Investment opportunities can be found at any hour. So, react immediately to market-moving news and capture more market opportunities when convenient for you. You can trade over 10,000 US Stocks and ETFs, US Equity Index options, US Treasuries – and more - around the clock. Interactive Brokers’ dual market centers ensure reliable and dependable overnight trading on your timetable. (Member SIPC)

IIIN Signals & Forecast

The Insteel Industries stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $29.87. On a fall, the stock will find some support from the long-term average at approximately $29.00. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Monday, November 25, 2024, and so far it has fallen -4.60%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Insteel Industries stock

Insteel Industries finds support from accumulated volume at $29.51 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.495 between high and low, or 1.69%. For the last week the stock has had daily average volatility of 2.31%.

Our recommended stop-loss: $28.26 (-4.34%) (This stock has very low daily movements and this gives very low risk. There is a sell signal from a pivot top found 7 days ago.)

Trading Expectations (IIIN) For The Upcoming Trading Day Of Friday 6th

For the upcoming trading day on Friday, 6th we expect Insteel Industries to open at $29.56, and during the day (based on 14 day Average True Range), to move between $28.78 and $30.30, which gives a possible trading interval of +/-$0.756 (+/-2.56%) up or down from last closing price. If Insteel Industries takes out the full calculated possible swing range there will be an estimated 5.12% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $29.51 (0.10%) than the resistance at $30.45 (3.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Insteel Industries stock A Buy?

Insteel Industries 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.

Current score: -0.563 Hold/Accumulate Unchanged

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 December 6, 2024 - $29.56 ( 0.0733%).