Inozyme Pharma, Inc. Stock Forecast
Inozyme Pharma, Inc. stock price down 1.51% on Thursday
(Updated on Apr 18, 2024)
The Inozyme Pharma, Inc. stock price fell by -1.51% on the last day (Thursday, 18th Apr 2024) from $4.65 to $4.58. During the last trading day the stock fluctuated 5.47% from a day low at $4.57 to a day high of $4.82. The price has fallen in 9 of the last 10 days and is down by -29.43% for this period. Volume has increased on the last day by 149 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, 549 thousand shares were bought and sold for approximately $2.51 million.
Given the current short-term trend, the stock is expected to rise 12.11% during the next 3 months and, with a 90% probability hold a price between $5.13 and $8.80 at the end of this 3-month period.
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INZY Signals & Forecast
There are few to no technical positive signals at the moment. The Inozyme Pharma, Inc. 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 $4.91 and $6.00. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -40.21%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Inozyme Pharma, Inc. stock
Inozyme Pharma, Inc. finds support from accumulated volume at $4.57 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 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 $0.250 between high and low, or 5.47%. For the last week, the stock has had daily average volatility of 7.36%.
Inozyme Pharma, Inc. is oversold on RSI14 (10). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INZY) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Inozyme Pharma, Inc. to open at $4.66, and during the day (based on 14 day Average True Range), to move between $4.09 and $5.07, which gives a possible trading interval of +/-$0.485 (+/-10.60%) up or down from last closing price. If Inozyme Pharma, Inc. takes out the full calculated possible swing range there will be an estimated 21.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.57 (0.22%) than the resistance at $5.24 (14.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Inozyme Pharma, Inc. stock A Buy?
The Inozyme Pharma, Inc. stock holds several negative signals and despite the positive trend, we believe Inozyme Pharma, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.510 Sell Candidate Unchanged
Predicted Opening Price for Inozyme Pharma, Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $4.66 ( 1.67%) | $4.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INZY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.91 | 7.13 % | |
| R2 | 4.81 | 5.05 % | ||
| R1 | 4.75 | 3.76 % | ||
| Current price: | 4.58 | |||
| Support | S1 | 4.56 | -0.411 % | |
| S2 | 4.50 | -1.70 % | ||
| S3 | 4.41 | -3.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.48 | 19.65 % | |
| R2 | 5.45 | 19.00 % | ||
| R1 | 5.24 | 14.41 % | ||
| Current price | 4.58 | |||
| Support | S1 | 4.57 | -0.218% | |
| S2 | 4.49 | -1.97% | ||
| S3 | 4.31 | -5.90% |
FAQ
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