Innovative Industrial Properties Stock Forecast
Evaluation of Innovative Industrial Properties stock downgraded after the last trading session.
(Updated on May 01, 2024)
The Innovative Industrial Properties stock price gained 2.06% on the last trading day (Wednesday, 1st May 2024), rising from $103.40 to $105.53. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.73% from a day low at $102.25 to a day high of $108.11. The price has risen in 8 of the last 10 days and is up by 12.72% over the past 2 weeks. Volume fell on the last day by -13 thousand shares and in total, 595 thousand shares were bought and sold for approximately $62.76 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 $108.07 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 9.60% during the next 3 months and, with a 90% probability hold a price between $104.30 and $118.44 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 $100.08 and $99.36. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 12.72%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Innovative Industrial Properties stock
Innovative Industrial Properties finds support from accumulated volume at $103.56 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 $5.86 between high and low, or 5.73%. For the last week, the stock has had daily average volatility of 3.28%.
Our recommended stop-loss: $102.20 (-3.16%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (IIPR) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Innovative Industrial Properties Inc. to open at $105.30, and during the day (based on 14 day Average True Range), to move between $102.83 and $108.23, which gives a possible trading interval of +/-$2.70 (+/-2.56%) 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 5.12% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $103.56, some $1.97 (1.87%) from the current price of $105.53, our system finds the risk reward attractive.
Earnings coming up
Innovative Industrial Properties will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.27. We will update the financials statements for Innovative Industrial Properties, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.81% in the first trading day after earnings release.
Is Innovative Industrial Properties Inc. stock A Buy?
Innovative Industrial Properties holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Innovative Industrial Properties Inc. of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$105.30 ( 0.220%) | $105.53 |
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 | 111.15 | 5.33 % | |
R2 | 108.92 | 3.21 % | ||
R1 | 107.53 | 1.90 % | ||
Current price: | 105.53 | |||
Support | S1 | 103.06 | -2.34 % | |
S2 | 101.68 | -3.65 % | ||
S3 | 99.44 | -5.77 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 105.53 | |||
Support | S1 | 103.56 | -1.87% | |
S2 | 103.40 | -2.02% | ||
S3 | 97.79 | -7.33% |
IIPR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 15, 2024 | Mar 27, 2024 | Apr 15, 2024 | $1.82 | 1.88% |
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.