Innovative Industrial Properties, Inc. Stock Forecast

Innovative Industrial Properties, Inc. stock downgraded to Sell Candidate
(Updated on Jun 28, 2024)

IIPR-PA Signals & Forecast

The Innovative Industrial Properties, Inc. 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 $28.04. On a fall, the stock will find some support from the long-term average at approximately $27.23. 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. 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 Monday, June 24, 2024, and so far it has fallen -2.29%. Further fall is indicated until a new bottom pivot has been found. Innovative Industrial Properties, Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Monday, June 03, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Monday, November 13, 2023.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Innovative Industrial Properties, Inc. stock

Innovative Industrial Properties, Inc. finds support from accumulated volume at $27.68 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.290 (1.05%) between high and low. For the last week, the stock has had daily average volatility of 1.35%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (IIPR-PA) 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 $27.80, and during the day (based on 14 day Average True Range), to move between $27.33 and $28.07, which gives a possible trading interval of +/-$0.372 (+/-1.34%) 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 2.68% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $27.68 (0.07%) than the resistance at $27.79 (0.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Innovative Industrial Properties, Inc. stock A Buy?

Innovative Industrial Properties, Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.

Current score: -1.449 Sell Candidate Downgraded

Predicted Opening Price for Innovative Industrial Properties, Inc. of Monday, July 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.