Indoor Harvest Corp Stock Forecast
High volatility in Indoor Harvest Corp stock price on Wednesday which ended trading at $0.0008
(Updated on May 01, 2024)
No changes to the price of Indoor Harvest Corp stock on the last trading day (Wednesday, 1st May 2024). During the last trading day the stock fluctuated 33.33% from a day low at $0.0006 to a day high of $0.0008. The price has fallen in 4 of the last 10 days but is still up by 45.45% over the past 2 weeks.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.0008, a level that may pose a second chance to hit a runner. According to fan-theory $0.0013 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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INQD Signals & Forecast
The Indoor Harvest Corp 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 $0.0006 and $0.0006. A breakdown below any of these levels will issue sell signals. 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 Tuesday, April 30, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Indoor Harvest Corp stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0008 and $0.0007. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Indoor Harvest Corp finds support just below today's level at $0.0008. If this is broken, then the next support from accumulated volume will be at $0.0007 and $0.0007.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0002 between high and low, or 33.33%. For the last week the stock has had daily average volatility of 36.27%.
Our recommended stop-loss: $0.0008 (-3.70%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (INQD) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Indoor Harvest Corp to open at $0.0007, and during the day (based on 14 day Average True Range), to move between $0.0006 and $0.0010, which gives a possible trading interval of +/-$0.0002 (+/-19.16%) up or down from last closing price. If Indoor Harvest Corp takes out the full calculated possible swing range there will be an estimated 38.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0009 (6.25%) than the support at $0.0008 (6.25%), 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 Indoor Harvest Corp stock A Buy?
Indoor Harvest Corp 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 Buy to a Hold/Accumulate candidate.
Current score: 0.375 Hold/Accumulate Downgraded
Predicted Opening Price for Indoor Harvest Corp of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $0.0007 ( 8.33%) | $0.0008 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INQD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0009 | 16.67 % | |
| R2 | 0.0009 | 7.12 % | ||
| R1 | 0.0008 | 1.22 % | ||
| Current price: | 0.0008 | |||
| Support | S1 | 0.0007 | -17.88 % | |
| S2 | 0.0006 | -23.78 % | ||
| S3 | 0.0005 | -33.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.0009 | 12.50 % | ||
| R1 | 0.0009 | 6.25 % | ||
| Current price | 0.0008 | |||
| Support | S1 | 0.0008 | -6.25% | |
| S2 | 0.0007 | -12.50% | ||
| S3 | 0.0007 | -18.75% |
FAQ
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