Innospec Inc. Stock Forecast

Innospec Inc. stock price ended at $122.28 on Friday, after gaining 1.21%.
(Updated on Apr 19, 2024)

IOSP Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.46%. Further rise is indicated until a new top pivot has been found. 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 Innospec Inc. 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 $124.58. On a fall, the stock will find some support from the short-term average at $121.86. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Innospec Inc. stock

Innospec Inc. finds support from accumulated volume at $122.07 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.49 (2.07%) between high and low. For the last week, the stock has had daily average volatility of 1.64%.

Our recommended stop-loss: $115.27 (-5.73%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (IOSP) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Innospec Inc. to open at $121.82, and during the day (based on 14 day Average True Range), to move between $119.86 and $124.70, which gives a possible trading interval of +/-$2.42 (+/-1.98%) up or down from last closing price. If Innospec Inc. takes out the full calculated possible swing range there will be an estimated 3.96% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $122.07 (0.17%) than the resistance at $123.55 (1.04%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Innospec Inc. stock A Buy?

Innospec Inc. 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.

Current score: -0.109 Hold/Accumulate Unchanged

Predicted Opening Price for Innospec Inc. of Monday, April 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.