INVO Bioscience, Inc. Stock Forecast
Volatile ride for INVO Bioscience, Inc. stock price on Friday moving between $0.782 and $0.94
(Updated on Jun 21, 2024)
The INVO Bioscience, Inc. stock price fell by -5.62% on the last day (Friday, 21st Jun 2024) from $0.89 to $0.84. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 20.19% from a day low at $0.782 to a day high of $0.94. The price has been going up and down for this period, and there has been a 9.09% gain for the last 2 weeks. Volume has increased on the last day by 25 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, 122 thousand shares were bought and sold for approximately $102.13 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 $0.727 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -10.92% during the next 3 months and, with a 90% probability hold a price between $0.647 and $1.49 at the end of this 3-month period.
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INVO Signals & Forecast
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 INVO Bioscience, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.93 and $0.91. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -21.50%. Further fall is indicated until a new bottom pivot has been found. INVO Bioscience, Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for INVO Bioscience, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.780 and $0.770. 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, INVO Bioscience, Inc. finds support just below today's level at $0.780. If this is broken, then the next support from accumulated volume will be at $0.770 and $0.760.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.158 between high and low, or 20.19%. For the last week, the stock has had daily average volatility of 12.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INVO) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect INVO Bioscience, Inc. to open at $0.85, and during the day (based on 14 day Average True Range), to move between $0.736 and $0.94, which gives a possible trading interval of +/-$0.104 (+/-12.44%) up or down from last closing price. If INVO Bioscience, Inc. takes out the full calculated possible swing range there will be an estimated 24.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.780 (7.14%) than the resistance at $0.95 (12.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is INVO Bioscience, Inc. stock A Buy?
INVO Bioscience, Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.347 Strong Sell Candidate Downgraded
Predicted Opening Price for INVO Bioscience, Inc. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $0.85 ( 1.66%) | $0.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INVO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.01 | 20.46% |
| R2 | 0.95 | 13.28% |
| R1 | 0.91 | 8.84% |
| Price | 0.84 | |
| S1 | 0.794 | -5.52% |
| S2 | 0.756 | -9.95% |
| S3 | 0.696 | -17.13% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.00 | 19.05% |
| R2 | 0.98 | 16.68% |
| R1 | 0.95 | 12.77% |
| Price | 0.84 | |
| S1 | 0.780 | -7.14% |
| S2 | 0.770 | -8.33% |
| S3 | 0.760 | -9.52% |
FAQ
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