Innoviz Technologies Ltd. Stock Forecast
High volatility in Innoviz Technologies Ltd. stock price on Wednesday which ended trading at $0.172
(Updated on Jun 26, 2024)
The Innoviz Technologies Ltd. stock price fell by -9.33% on the last day (Wednesday, 26th Jun 2024) from $0.190 to $0.172. During the last trading day the stock fluctuated 10.40% from a day low at $0.172 to a day high of $0.190. The price has fallen in 4 of the last 10 days and is down by -9.42% for this period. 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, 2 thousand shares were bought and sold for approximately $375.87 .
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 -28.08% during the next 3 months and, with a 90% probability hold a price between $0.0724 and $0.180 at the end of this 3-month period.
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INVZW Signals & Forecast
There are mixed signals in the stock today. 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 $0.214. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 1.18%. 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).
A buy signal from a double bottom formation was found on Thursday, June 06, 2024 and based on theory for this formation the price should go up by 126.51% to $0.390 within 26 trading days since signal was issued (Tuesday, July 16, 2024).
Support, Risk & Stop-loss for Innoviz Technologies Ltd. stock
Innoviz Technologies Ltd. finds support from accumulated volume at $0.171 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 $0.0179 between high and low, or 10.40%. For the last week the stock has had daily average volatility of 16.65%.
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 Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Innoviz Technologies Ltd. to open at $0.178, and during the day (based on 14 day Average True Range), to move between $0.145 and $0.199, which gives a possible trading interval of +/-$0.0269 (+/-15.66%) up or down from last closing price. If Innoviz Technologies Ltd. takes out the full calculated possible swing range there will be an estimated 31.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.171 (0.58%) than the resistance at $0.190 (10.40%), 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 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: -4.782 Sell Candidate Unchanged
Predicted Opening Price for Innoviz Technologies Ltd. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $0.178 ( 3.47%) | $0.172 |
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 | 0.196 | 13.87% |
| R2 | 0.189 | 9.89% |
| R1 | 0.185 | 7.44% |
| Price | 0.172 | |
| S1 | 0.171 | -0.506% |
| S2 | 0.167 | -2.96% |
| S3 | 0.160 | -6.93% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.210 | 21.96% |
| R2 | 0.198 | 14.82% |
| R1 | 0.190 | 10.40% |
| Price | 0.172 | |
| S1 | 0.171 | -0.581% |
| S2 | 0.170 | -1.16% |
| S3 | 0.170 | -1.22% |
FAQ
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