Inspire Medical Systems Inc. Stock Forecast
Weaker technical forecast for Inspire Medical Systems Inc. as stock downgraded to Buy Candidate.
(Updated on May 03, 2024)
The Inspire Medical Systems Inc. stock price fell by -0.585% on the last day (Friday, 3rd May 2024) from $251.19 to $249.72. During the last trading day the stock fluctuated 3.08% from a day low at $249.72 to a day high of $257.40. The price has risen in 6 of the last 10 days and is up by 8.94% over the past 2 weeks. Volume has increased on the last day by 6 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 351 thousand shares were bought and sold for approximately $87.76 million.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $252.13 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 29.95% during the next 3 months and, with a 90% probability hold a price between $286.83 and $327.64 at the end of this 3-month period.
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INSP Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -0.585%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Inspire Medical Systems Inc. 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 $242.66 and $223.24. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Inspire Medical Systems Inc. stock
Inspire Medical Systems Inc. finds support from accumulated volume at $243.51 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $7.68 between high and low, or 3.08%. For the last week, the stock has had daily average volatility of 3.85%.
Our recommended stop-loss: $242.52 (-2.88%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (INSP) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Inspire Medical Systems Inc. to open at $252.28, and during the day (based on 14 day Average True Range), to move between $239.11 and $260.33, which gives a possible trading interval of +/-$10.61 (+/-4.25%) up or down from last closing price. If Inspire Medical Systems Inc. takes out the full calculated possible swing range there will be an estimated 8.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $251.19 (0.59%) than the support at $243.51 (2.49%), 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.
Earnings coming up
Inspire Medical Systems Inc. will release earnings AMC on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.630. We will update the financials statements for Inspire Medical Systems Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.14% in the first trading day after earnings release.
Is Inspire Medical Systems Inc. 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 Inspire Medical Systems Inc. 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: 1.680 Buy Candidate Downgraded
Predicted Opening Price for Inspire Medical Systems Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $252.28 ( 1.03%) | $249.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INSP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 259.96 | 4.10 % | |
| R2 | 257.03 | 2.93 % | ||
| R1 | 255.21 | 2.20 % | ||
| Current price: | 249.72 | |||
| Support | S1 | 249.35 | -0.150 % | |
| S2 | 247.53 | -0.88 % | ||
| S3 | 244.60 | -2.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 251.19 | 0.589 % | ||
| Current price | 249.72 | |||
| Support | S1 | 243.51 | -2.49% | |
| S2 | 202.16 | -19.05% | ||
| S3 | 202.01 | -19.11% |
INSP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 21, 2007 | Jan 09, 2008 | Jan 09, 2008 | $9.00 | 0% |
FAQ
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