Innovative Industrial Properties Stock Forecast
Red day on Thursday for Innovative Industrial Properties stock after losing 0.776%
(Updated on Mar 28, 2024)
The Innovative Industrial Properties stock price fell by -0.776% on the last day (Thursday, 28th Mar 2024) from $104.35 to $103.54. During the last trading day the stock fluctuated 1.93% from a day low at $103.03 to a day high of $105.01. The price has risen in 8 of the last 10 days and is up by 6.91% over the past 2 weeks. Volume has increased on the last day by 38 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, 255 thousand shares were bought and sold for approximately $26.40 million.
The stock lies in the upper part of a wide and weak rising 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 $104.45 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 5.88% during the next 3 months and, with a 90% probability hold a price between $97.16 and $110.58 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
IIPR Signals & Forecast
The Innovative Industrial Properties stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $102.76 and $96.21. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Wednesday, March 27, 2024, and so far it has fallen -0.776%. Further fall is indicated until a new bottom pivot has been found. 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 Innovative Industrial Properties stock
Innovative Industrial Properties finds support from accumulated volume at $102.30 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 $1.99 between high and low, or 1.93%. For the last week, the stock has had daily average volatility of 2.18%.
The Innovative Industrial Properties stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $100.71 (-2.73%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 78 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (IIPR) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Innovative Industrial Properties Inc. to open at $103.86, and during the day (based on 14 day Average True Range), to move between $101.21 and $105.87, which gives a possible trading interval of +/-$2.33 (+/-2.25%) up or down from last closing price. If Innovative Industrial Properties Inc. takes out the full calculated possible swing range there will be an estimated 4.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $103.56 (0.02%) than the support at $102.30 (1.20%), 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 Innovative Industrial Properties Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Innovative Industrial Properties stock to perform well in the short-term.
Current score: 2.001 Buy Candidate Unchanged
Predicted Opening Price for Innovative Industrial Properties Inc. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$103.86 ( 0.307%) | $103.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IIPR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 105.84 | 2.22 % | |
R2 | 105.09 | 1.49 % | ||
R1 | 104.62 | 1.04 % | ||
Current price: | 103.54 | |||
Support | S1 | 103.10 | -0.425 % | |
S2 | 102.63 | -0.88 % | ||
S3 | 101.87 | -1.61 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 104.35 | 0.782 % | |
R2 | 103.58 | 0.0386 % | ||
R1 | 103.56 | 0.0193 % | ||
Current price | 103.54 | |||
Support | S1 | 102.30 | -1.20% | |
S2 | 96.67 | -6.64% | ||
S3 | 95.32 | -7.94% |
IIPR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 15, 2024 | Mar 27, 2024 | Apr 15, 2024 | $1.82 | 1.76% |
2 | Dec 15, 2023 | Dec 28, 2023 | Jan 12, 2024 | $1.82 | 1.95% |
3 | Sep 15, 2023 | Sep 28, 2023 | Oct 13, 2023 | $1.80 | 2.38% |
4 | Jun 15, 2023 | Jun 29, 2023 | Jul 14, 2023 | $1.80 | 2.38% |
5 | Mar 15, 2023 | Mar 30, 2023 | Apr 14, 2023 | $1.80 | 2.54% |
FAQ
Click here for our free guide on how to buy Innovative Industrial Properties Stock.