Innovative Industrial Properties Stock Forecast
Red day on Tuesday for Innovative Industrial Properties stock after losing 0.176%
(Updated on Jul 02, 2024)
The Innovative Industrial Properties stock price fell by -0.176% on the last day (Tuesday, 2nd Jul 2024) from $107.75 to $107.56. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.31% from a day low at $107.29 to a day high of $108.70. The price has fallen in 6 of the last 10 days but is still up by 0.07% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -33 thousand shares and in total, 115 thousand shares were bought and sold for approximately $12.32 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.57% during the next 3 months and, with a 90% probability hold a price between $116.09 and $133.83 at the end of this 3-month period.
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IIPR Signals & Forecast
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. The Innovative Industrial Properties stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $108.96 and $108.71. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -5.59%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Innovative Industrial Properties stock
Innovative Industrial Properties finds support from accumulated volume at $105.53 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 $1.41 between high and low, or 1.31%. For the last week the stock has had daily average volatility of 1.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IIPR) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Innovative Industrial Properties Inc. to open at $107.85, and during the day (based on 14 day Average True Range), to move between $105.30 and $109.82, which gives a possible trading interval of +/-$2.26 (+/-2.10%) 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 4.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $107.73 (0.16%) than the support at $105.53 (1.89%), 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?
The Innovative Industrial Properties stock holds several negative signals and despite the positive trend, we believe Innovative Industrial Properties will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -5.267 Strong Sell Candidate Unchanged
Predicted Opening Price for Innovative Industrial Properties Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $107.85 ( 0.270%) | $107.56 |
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 | |
|---|---|---|
| R3 | 109.26 | 1.58% |
| R2 | 108.72 | 1.08% |
| R1 | 108.39 | 0.770% |
| Price | 107.56 | |
| S1 | 107.31 | -0.231% |
| S2 | 106.98 | -0.540% |
| S3 | 106.44 | -1.04% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 110.22 | 2.47% |
| R2 | 108.29 | 0.679% |
| R1 | 107.73 | 0.158% |
| Price | 107.56 | |
| S1 | 105.53 | -1.89% |
| S2 | 103.40 | -3.87% |
| S3 | 97.79 | -9.08% |
IIPR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2024 | Jun 28, 2024 | Jul 15, 2024 | $1.90 | 1.77% |
| 2 | Jun 14, 2024 | Jun 27, 2024 | Jul 15, 2024 | $1.90 | 1.77% |
| 3 | Mar 15, 2024 | Mar 27, 2024 | Apr 15, 2024 | $1.82 | 1.88% |
| 4 | Dec 15, 2023 | Dec 28, 2023 | Jan 12, 2024 | $1.82 | 1.95% |
| 5 | Sep 15, 2023 | Sep 28, 2023 | Oct 13, 2023 | $1.80 | 2.38% |
FAQ
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