Innoviva, Inc Stock Forecast
Weaker technical forecast for Innoviva, Inc as stock downgraded to Buy Candidate.
(Updated on Jul 02, 2024)
No changes to the price of Innoviva, Inc stock on the last trading day (Tuesday, 2nd Jul 2024). During the last trading day the stock fluctuated 1.16% from a day low at $16.42 to a day high of $16.61. The price has risen in 6 of the last 10 days and is up by 2.1% over the past 2 weeks.
The stock lies in the upper part of a narrow 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 $16.53 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 12.34% during the next 3 months and, with a 90% probability hold a price between $17.95 and $18.57 at the end of this 3-month period.
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INVA Signals & Forecast
The Innoviva, 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 $16.29 and $16.01. 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 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for Innoviva, Inc stock
Innoviva, Inc finds support from accumulated volume at $16.07 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.190 between high and low, or 1.16%. For the last week the stock has had daily average volatility of 1.95%.
Our recommended stop-loss: $15.90 (-3.62%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (INVA) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Innoviva, Inc to open at $16.51, and during the day (based on 14 day Average True Range), to move between $16.17 and $16.83, which gives a possible trading interval of +/-$0.333 (+/-2.02%) up or down from last closing price. If Innoviva, Inc takes out the full calculated possible swing range there will be an estimated 4.04% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $16.07, some $0.430 (2.61%) from the current price of $16.50, our system finds the risk reward attractive.
Is Innoviva, 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 Innoviva, 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: 2.755 Buy Candidate Downgraded
Predicted Opening Price for Innoviva, Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $16.51 ( 0.0404%) | $16.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INVA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.70 | 1.19% |
| R2 | 16.62 | 0.752% |
| R1 | 16.58 | 0.480% |
| Price | 16.50 | |
| S1 | 16.43 | -0.399% |
| S2 | 16.39 | -0.671% |
| S3 | 16.32 | -1.11% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 16.50 | |
| S1 | 16.07 | -2.61% |
| S2 | 15.90 | -3.64% |
| S3 | 15.17 | -8.06% |
INVA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 30, 2015 | Sep 08, 2015 | Sep 30, 2015 | $0.250 | 3.48% |
| 2 | May 06, 2015 | Jun 10, 2015 | Jun 30, 2015 | $0.250 | 1.41% |
| 3 | Feb 23, 2015 | Mar 10, 2015 | Mar 31, 2015 | $0.250 | 1.64% |
| 4 | Oct 16, 2014 | Nov 21, 2014 | Dec 23, 2014 | $0.250 | 1.82% |
| 5 | Aug 06, 2014 | Aug 26, 2014 | Sep 18, 2014 | $0.250 | 1.43% |
FAQ
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