Intelligent Bio Solutions Inc. Stock Forecast
Stronger technical forecast for Intelligent Bio Solutions Inc. stock price after Thursday trading.
(Updated on May 09, 2024)
The Intelligent Bio Solutions Inc. stock price fell by -1.20% on the last day (Thursday, 9th May 2024) from $2.50 to $2.47. During the last trading day the stock fluctuated 7.30% from a day low at $2.38 to a day high of $2.55. The price has fallen in 6 of the last 10 days. 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 -123 thousand shares and in total, 51 thousand shares were bought and sold for approximately $126.89 thousand.
The stock lies in the middle of a very 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 -46.92% during the next 3 months and, with a 90% probability hold a price between $1.06 and $1.76 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.
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INBS Signals & Forecast
There are mixed signals in the stock today. The Intelligent Bio Solutions Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $2.60 and $3.22. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has fallen 0%. 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).
Support, Risk & Stop-loss for Intelligent Bio Solutions Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.174 between high and low, or 7.30%. For the last week the stock has had daily average volatility of 15.19%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INBS) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Intelligent Bio Solutions Inc. to open at $2.47, and during the day (based on 14 day Average True Range), to move between $2.15 and $2.79, which gives a possible trading interval of +/-$0.323 (+/-13.07%) up or down from last closing price. If Intelligent Bio Solutions Inc. takes out the full calculated possible swing range there will be an estimated 26.13% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $2.50, some $0.0300 (1.21%) from the current price of $2.47, our system finds the risk reward not very attractive.
Is Intelligent Bio Solutions Inc. stock A Buy?
Intelligent Bio Solutions 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.390 Sell Candidate Upgraded
Predicted Opening Price for Intelligent Bio Solutions Inc. of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $2.47 ( 0.0850%) | $2.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INBS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.64 | 6.95 % | |
| R2 | 2.58 | 4.26 % | ||
| R1 | 2.53 | 2.60 % | ||
| Current price: | 2.47 | |||
| Support | S1 | 2.40 | -2.77 % | |
| S2 | 2.36 | -4.43 % | ||
| S3 | 2.29 | -7.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.04 | 23.08 % | |
| R2 | 2.80 | 13.36 % | ||
| R1 | 2.50 | 1.21 % | ||
| Current price | 2.47 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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