Inseego Corp Stock Forecast
Big movements in Inseego Corp stock price on Tuesday moving 14.55% between high and low
(Updated on Jul 02, 2024)
The Inseego Corp stock price fell by -9.37% on the last day (Tuesday, 2nd Jul 2024) from $12.81 to $11.61. During the last trading day the stock fluctuated 14.55% from a day low at $11.00 to a day high of $12.60. The price has risen in 8 of the last 10 days and is up by 40.56% 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 -371 thousand shares and in total, 463 thousand shares were bought and sold for approximately $5.37 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 295.94% during the next 3 months and, with a 90% probability hold a price between $37.49 and $51.34 at the end of this 3-month period.
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INSG Signals & Forecast
The Inseego 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 $10.88 and $8.45. 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 Monday, July 01, 2024, and so far it has fallen -9.37%. Further fall is indicated until a new bottom pivot has been found. 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 Inseego Corp stock
On the downside, the stock finds support just below today's level from accumulated volume at $10.17 and $9.81. 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, Inseego Corp finds support just below today's level at $10.17. If this is broken, then the next support from accumulated volume will be at $9.81 and $9.66.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.60 between high and low, or 14.55%. For the last week, the stock has had daily average volatility of 14.06%.
Our recommended stop-loss: $11.06 (-4.70%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (INSG) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Inseego Corp to open at $11.74, and during the day (based on 14 day Average True Range), to move between $10.48 and $12.74, which gives a possible trading interval of +/-$1.13 (+/-9.71%) up or down from last closing price. If Inseego Corp takes out the full calculated possible swing range there will be an estimated 19.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $12.81 (10.34%) than the support at $10.17 (12.40%), 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 Inseego Corp stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Inseego Corp stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.556 Buy Candidate Downgraded
Predicted Opening Price for Inseego Corp of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $11.74 ( 1.09%) | $11.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INSG
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.34 | 14.87% |
| R2 | 12.73 | 9.61% |
| R1 | 12.35 | 6.36% |
| Price | 11.61 | |
| S1 | 11.13 | -4.17% |
| S2 | 10.75 | -7.43% |
| S3 | 10.14 | -12.69% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 12.81 | 10.34% |
| Price | 11.61 | |
| S1 | 10.17 | -12.40% |
| S2 | 9.81 | -15.50% |
| S3 | 9.66 | -16.80% |
FAQ
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