Innoviz Technologies Ltd. Stock Forecast
On Friday, Innoviz Technologies Ltd. stock price gained an impressive 8.04%
(Updated on May 03, 2024)
The Innoviz Technologies Ltd. stock price gained 8.04% on the last trading day (Friday, 3rd May 2024), rising from $1.12 to $1.21. During the last trading day the stock fluctuated 8.93% from a day low at $1.12 to a day high of $1.22. The price has been going up and down for this period, and there has been a 19.8% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $4.93 million.
The stock lies the upper part of a very wide and falling 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 $1.26 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -33.60% during the next 3 months and, with a 90% probability hold a price between $0.569 and $0.84 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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INVZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 27.37%. 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). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Innoviz Technologies Ltd. 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 $1.24. On a fall, the stock will find some support from the short-term average at $1.14. 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.
Support, Risk & Stop-loss for Innoviz Technologies Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.07 and $1.01. 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, Innoviz Technologies Ltd. finds support just below today's level at $1.07. If this is broken, then the next support from accumulated volume will be at $1.01 and $0.96.
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 $0.1000 between high and low, or 8.93%. For the last week, the stock has had daily average volatility of 7.57%.
Our recommended stop-loss: $1.16 (-3.90%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (INVZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Innoviz Technologies Ltd. to open at $1.18, and during the day (based on 14 day Average True Range), to move between $1.12 and $1.30, which gives a possible trading interval of +/-$0.0891 (+/-7.37%) up or down from last closing price. If Innoviz Technologies Ltd. takes out the full calculated possible swing range there will be an estimated 14.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.31 (8.26%) than the support at $1.07 (11.57%), 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
Innoviz Technologies Ltd. will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.110. We will update the financials statements for Innoviz Technologies Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 16.73% in the first trading day after earnings release.
Is Innoviz Technologies Ltd. stock A Buy?
Innoviz Technologies Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.376 Hold/Accumulate Upgraded
Predicted Opening Price for Innoviz Technologies Ltd. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $1.18 ( 2.20%) | $1.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INVZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.28 | 6.06 % | |
| R2 | 1.25 | 2.90 % | ||
| R1 | 1.22 | 0.95 % | ||
| Current price: | 1.21 | |||
| Support | S1 | 1.15 | -5.36 % | |
| S2 | 1.12 | -7.31 % | ||
| S3 | 1.08 | -10.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.46 | 20.66 % | |
| R2 | 1.33 | 9.92 % | ||
| R1 | 1.31 | 8.26 % | ||
| Current price | 1.21 | |||
| Support | S1 | 1.07 | -11.57% | |
| S2 | 1.01 | -16.53% | ||
| S3 | 0.96 | -20.48% |
FAQ
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