Innospec Inc. Stock Forecast
Stronger technical forecast for Innospec Inc. stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Innospec Inc. stock price gained 0.82% on the last trading day (Tuesday, 2nd Jul 2024), rising from $121.43 to $122.42. During the last trading day the stock fluctuated 1.29% from a day low at $121.93 to a day high of $123.50. The price has fallen in 6 of the last 10 days and is down by -1.08% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 41 thousand more shares were traded than the day before. In total, 119 thousand shares were bought and sold for approximately $14.61 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $121.47 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.02% during the next 3 months and, with a 90% probability hold a price between $123.92 and $135.62 at the end of this 3-month period.
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IOSP Signals & Forecast
The Innospec 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 $123.13 and $126.67. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Monday, July 01, 2024, and so far it has risen 0.82%. 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.
A sell signal from a double top formation was found on Wednesday, June 05, 2024 with a target of $124.18. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Innospec Inc. stock
Innospec Inc. finds support from accumulated volume at $121.98 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 $1.57 (1.29%) between high and low. For the last week, the stock has had daily average volatility of 1.57%.
Our recommended stop-loss: $115.14 (-5.94%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (IOSP) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Innospec Inc. to open at $122.62, and during the day (based on 14 day Average True Range), to move between $120.07 and $124.77, which gives a possible trading interval of +/-$2.35 (+/-1.92%) up or down from last closing price. If Innospec Inc. takes out the full calculated possible swing range there will be an estimated 3.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $121.98 (0.36%) than the resistance at $123.24 (0.67%), 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?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.576 Buy Candidate Upgraded
Predicted Opening Price for Innospec Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $122.62 ( 0.161%) | $122.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IOSP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 124.19 | 1.44% |
| R2 | 123.59 | 0.95% |
| R1 | 123.22 | 0.651% |
| Price | 122.42 | |
| S1 | 122.02 | -0.329% |
| S2 | 121.65 | -0.632% |
| S3 | 121.05 | -1.12% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 124.51 | 1.71% |
| R2 | 123.59 | 0.96% |
| R1 | 123.24 | 0.670% |
| Price | 122.42 | |
| S1 | 121.98 | -0.359% |
| S2 | 120.44 | -1.62% |
| S3 | 120.10 | -1.90% |
IOSP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 17, 2024 | May 17, 2024 | May 31, 2024 | $0.720 | 0.550% |
| 2 | Nov 06, 2023 | Nov 17, 2023 | Nov 27, 2023 | $0.720 | 0.679% |
| 3 | May 02, 2023 | May 19, 2023 | May 31, 2023 | $0.690 | 0.747% |
| 4 | May 10, 2023 | Nov 18, 2022 | Nov 28, 2022 | $0.650 | 0.595% |
| 5 | May 03, 2022 | May 16, 2022 | May 26, 2022 | $0.630 | 0.616% |
FAQ
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