Induction Healthcare Group Plc Stock Forecast
Evaluation of Induction Healthcare Group Plc stock downgraded after the last trading session.
(Updated on Jun 19, 2024)
The Induction Healthcare Group Plc stock price gained 4.17% on the last trading day (Wednesday, 19th Jun 2024), rising from £12.00 to £12.50. During the last trading day the stock fluctuated 0% from a day low at £12.50 to a day high of £12.50. The price has been going up and down for this period, and there has been a -8.09% loss for the last 2 weeks. Volume fell on the last day by -40 thousand shares and in total, 0 shares were bought and sold for approximately £0 . 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 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 -16.24% during the next 3 months and, with a 90% probability hold a price between £8.64 and £11.50 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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INHC.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 4.17%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Induction Healthcare Group Plc 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 £12.64 and £12.55. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Tuesday, June 11, 2024 with a target of £12.73. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Induction Healthcare Group Plc stock
Induction Healthcare Group Plc finds support from accumulated volume at £12.00 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 4.84%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INHC.L) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Induction Healthcare Group Plc to open at £12.50, and during the day (based on 14 day Average True Range), to move between £11.53 and £13.47, which gives a possible trading interval of +/-£0.97 (+/-7.74%) up or down from last closing price. If Induction Healthcare Group Plc takes out the full calculated possible swing range there will be an estimated 15.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £13.00 (4.00%) than the support at £12.00 (4.00%), 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 Induction Healthcare Group Plc stock A Buy?
Induction Healthcare Group Plc 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.702 Sell Candidate Downgraded
Predicted Opening Price for Induction Healthcare Group Plc of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| £12.50 ( 0%) | £12.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INHC.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.50 | - |
| R2 | 12.50 | - |
| R1 | 12.50 | - |
| Price | 12.50 | |
| S1 | 12.50 | - |
| S2 | 12.50 | - |
| S3 | 12.50 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.30 | 22.40% |
| R2 | 14.00 | 12.00% |
| R1 | 13.00 | 4.00% |
| Price | 12.50 | |
| S1 | 12.00 | -4.00% |
| S2 | 11.52 | -7.84% |
| S3 | 0 | - |
FAQ
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