Innoviz Technologies Ltd. Stock Forecast
Innoviz Technologies Ltd. stock price took a fall of -7.36% on Friday
(Updated on Jun 21, 2024)
The Innoviz Technologies Ltd. stock price fell by -7.36% on the last day (Friday, 21st Jun 2024) from $0.185 to $0.171. During the last trading day the stock fluctuated 5.20% from a day low at $0.171 to a day high of $0.180. The price has been going up and down for this period, and there has been a 0.59% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 thousand shares and in total, 3 thousand shares were bought and sold for approximately $488.32 .
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 -30.61% during the next 3 months and, with a 90% probability hold a price between $0.0679 and $0.173 at the end of this 3-month period.
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INVZW Signals & Forecast
There are few to no technical positive signals at the moment. The Innoviz Technologies Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.185 and $0.215. 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 10, 2024, and so far it has fallen -18.48%. 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 fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Innoviz Technologies Ltd. stock
Innoviz Technologies Ltd. finds support from accumulated volume at $0.170 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0089 between high and low, or 5.20%. For the last week the stock has had daily average volatility of 7.02%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INVZW) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Innoviz Technologies Ltd. to open at $0.174, and during the day (based on 14 day Average True Range), to move between $0.144 and $0.198, which gives a possible trading interval of +/-$0.0267 (+/-15.63%) up or down from last closing price. If Innoviz Technologies Ltd. takes out the full calculated possible swing range there will be an estimated 31.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.170 (0.53%) than the resistance at $0.190 (11.05%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Innoviz Technologies Ltd. stock A Buy?
Innoviz Technologies Ltd. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.755 Sell Candidate Upgraded
Predicted Opening Price for Innoviz Technologies Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $0.174 ( 1.73%) | $0.171 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INVZW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.183 | 6.94% |
| R2 | 0.180 | 4.95% |
| R1 | 0.177 | 3.72% |
| Price | 0.171 | |
| S1 | 0.171 | -0.253% |
| S2 | 0.169 | -1.48% |
| S3 | 0.165 | -3.47% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.210 | 22.68% |
| R2 | 0.198 | 15.49% |
| R1 | 0.190 | 11.05% |
| Price | 0.171 | |
| S1 | 0.170 | -0.526% |
| S2 | 0.170 | -0.584% |
| S3 | 0.170 | -0.643% |
FAQ
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