Inogen Stock Forecast
Inogen stock price ended at $6.75 on Friday, after losing 4.80%.
(Updated on Apr 19, 2024)
The Inogen stock price fell by -4.80% on the last day (Friday, 19th Apr 2024) from $7.09 to $6.75. During the last trading day the stock fluctuated 8.98% from a day low at $6.68 to a day high of $7.28. The price has been going up and down for this period, and there has been a 7.14% gain for the last 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 -60 thousand shares and in total, 258 thousand shares were bought and sold for approximately $1.74 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Inogen stock with a 90% probability to be traded between $5.39 and $10.21 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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INGN Signals & Forecast
There are few to no technical positive signals at the moment. The Inogen 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 $7.07 and $7.12. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 15, 2024, and so far it has fallen -33.50%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Inogen stock
Inogen finds support from accumulated volume at $6.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.600 between high and low, or 8.98%. For the last week, the stock has had daily average volatility of 6.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INGN) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Inogen to open at $6.90, and during the day (based on 14 day Average True Range), to move between $6.24 and $7.26, which gives a possible trading interval of +/-$0.510 (+/-7.55%) up or down from last closing price. If Inogen takes out the full calculated possible swing range there will be an estimated 15.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.65 (1.48%) than the resistance at $7.12 (5.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Inogen stock A Buy?
Inogen holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.456 Sell Candidate Unchanged
Predicted Opening Price for Inogen of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $6.90 ( 2.27%) | $6.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INGN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.50 | 11.16 % | |
| R2 | 7.27 | 7.76 % | ||
| R1 | 7.13 | 5.67 % | ||
| Current price: | 6.75 | |||
| Support | S1 | 6.67 | -1.12 % | |
| S2 | 6.53 | -3.22 % | ||
| S3 | 6.30 | -6.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.21 | 21.63 % | |
| R2 | 7.57 | 12.15 % | ||
| R1 | 7.12 | 5.41 % | ||
| Current price | 6.75 | |||
| Support | S1 | 6.65 | -1.48% | |
| S2 | 6.34 | -6.15% | ||
| S3 | 6.29 | -6.81% |
FAQ
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