Inrad Optics, Inc. Stock Forecast
Red day on Tuesday for Inrad Optics, Inc. stock after losing 0.463%
(Updated on May 07, 2024)
The Inrad Optics, Inc. stock price fell by -0.463% on the last day (Tuesday, 7th May 2024) from $1.08 to $1.08. During the last trading day the stock fluctuated 0.465% from a day low at $1.08 to a day high of $1.08. The price has fallen in 4 of the last 10 days but is still up by 0.47% over the past 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 -42 thousand shares and in total, 21 thousand shares were bought and sold for approximately $22.04 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.03 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -12.98% during the next 3 months and, with a 90% probability hold a price between $0.90 and $1.22 at the end of this 3-month period.
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INRD Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 2.38%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Inrad Optics, Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $1.21. On a fall, the stock will find some support from the short-term average at $1.07. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Inrad Optics, Inc. stock
Inrad Optics, Inc. finds support from accumulated volume at $1.07 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 $0.0050 between high and low, or 0.465%. For the last week the stock has had daily average volatility of 0.348%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INRD) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Inrad Optics, Inc. to open at $1.08, and during the day (based on 14 day Average True Range), to move between $1.05 and $1.10, which gives a possible trading interval of +/-$0.0280 (+/-2.60%) up or down from last closing price. If Inrad Optics, Inc. takes out the full calculated possible swing range there will be an estimated 5.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.07 (0.47%) than the resistance at $1.08 (0.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Inrad Optics, Inc. will release earnings -- on Monday, May 13, 2024. We will update the financials statements for Inrad Optics, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 12.66% in the first trading day after earnings release.
Is Inrad Optics, Inc. stock A Buy?
Inrad Optics, 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.
Current score: -2.789 Sell Candidate Unchanged
Predicted Opening Price for Inrad Optics, Inc. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $1.08 ( 0.155%) | $1.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INRD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.08 | 0.620 % | |
| R2 | 1.08 | 0.442 % | ||
| R1 | 1.08 | 0.333 % | ||
| Current price: | 1.08 | |||
| Support | S1 | 1.07 | -0.0226 % | |
| S2 | 1.07 | -0.132 % | ||
| S3 | 1.07 | -0.310 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.31 | 21.86 % | |
| R2 | 1.30 | 20.93 % | ||
| R1 | 1.08 | 0.465 % | ||
| Current price | 1.08 | |||
| Support | S1 | 1.07 | -0.465% | |
| S2 | 1.06 | -1.40% | ||
| S3 | 1.05 | -2.33% |
FAQ
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