Inuvo Inc Stock Forecast
Inuvo Inc stock price up 1.71% on Monday
(Updated on Apr 29, 2024)
The Inuvo Inc stock price gained 1.71% on the last trading day (Monday, 29th Apr 2024), rising from $0.334 to $0.340. During the last trading day the stock fluctuated 4.25% from a day low at $0.332 to a day high of $0.346. The price has risen in 6 of the last 10 days and is up by 3.03% over the past 2 weeks. Volume fell on the last day by -100 thousand shares and in total, 108 thousand shares were bought and sold for approximately $36.75 thousand. 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 -19.64% during the next 3 months and, with a 90% probability hold a price between $0.249 and $0.359 at the end of this 3-month period.
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INUV Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 6.25%. 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 Inuvo 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 $0.359. On a fall, the stock will find some support from the short-term average at $0.331. 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 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 Thursday, March 07, 2024 with a target of $0.434. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Inuvo Inc stock
Inuvo Inc finds support from accumulated volume at $0.337 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0141 between high and low, or 4.25%. For the last week the stock has had daily average volatility of 4.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INUV) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Inuvo Inc to open at $0.339, and during the day (based on 14 day Average True Range), to move between $0.314 and $0.366, which gives a possible trading interval of +/-$0.0260 (+/-7.63%) up or down from last closing price. If Inuvo Inc takes out the full calculated possible swing range there will be an estimated 15.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.341 (0.29%) than the support at $0.337 (0.82%), 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
Inuvo Inc will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0100. We will update the financials statements for Inuvo Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 11.42% in the first trading day after earnings release.
Is Inuvo Inc stock A Buy?
Inuvo 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: -1.512 Sell Candidate Unchanged
Predicted Opening Price for Inuvo Inc of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $0.339 ( 0.206%) | $0.340 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INUV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.353 | 3.94 % | |
| R2 | 0.348 | 2.36 % | ||
| R1 | 0.345 | 1.38 % | ||
| Current price: | 0.340 | |||
| Support | S1 | 0.334 | -1.79 % | |
| S2 | 0.331 | -2.77 % | ||
| S3 | 0.325 | -4.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.420 | 23.53 % | |
| R2 | 0.412 | 21.29 % | ||
| R1 | 0.341 | 0.294 % | ||
| Current price | 0.340 | |||
| Support | S1 | 0.337 | -0.82% | |
| S2 | 0.330 | -2.94% | ||
| S3 | 0.321 | -5.59% |
FAQ
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