RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of ITMPF
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Green day on Thursday for ITM Power Plc
(Updated on Mar 28, 2024)

Hold candidate since Mar 27, 2024 Gain 3.81% PDF

The ITM Power Plc stock price gained 3.81% on the last trading day (Thursday, 28th Mar 2024), rising from $0.669 to $0.695. During the last trading day the stock fluctuated 4.44% from a day low at $0.665 to a day high of $0.695. The price has risen in 6 of the last 10 days but is still down by -5.39% for this period. Volume fell on the last day by -29 thousand shares and in total, 2 thousand shares were bought and sold for approximately $1.27 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect ITM Power Plc stock with a 90% probability to be traded between $0.599 and $0.86 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

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ITMPF Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 6.03%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The ITM Power Plc 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 $0.725. On a fall, the stock will find some support from the short-term average at $0.677. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for ITM Power Plc stock

ITM Power Plc finds support from accumulated volume at $0.669 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0295 between high and low, or 4.44%. For the last week the stock has had daily average volatility of 4.13%.

Our recommended stop-loss: $0.670 (-3.54%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (ITMPF) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect ITM Power Plc to open at $0.685, and during the day (based on 14 day Average True Range), to move between $0.652 and $0.737, which gives a possible trading interval of +/-$0.0421 (+/-6.06%) up or down from last closing price. If ITM Power Plc takes out the full calculated possible swing range there will be an estimated 12.12% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.710 (2.23%) than the support at $0.669 (3.67%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is ITM Power Plc stock A Buy?

ITM Power Plc 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: -0.552 Hold/Accumulate Unchanged

Predicted Opening Price for ITM Power Plc of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$0.685 ( 1.42%) $0.695

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

Trading levels for ITMPF

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 0.714 2.83 %
R2 0.703 1.21 %
R1 0.696 0.207 %
Current price: 0.695
Support S1 0.673 -3.04 %
S2 0.666 -4.04 %
S3 0.655 -5.66 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0.734 5.70 %
R2 0.712 2.46 %
R1 0.710 2.23 %
Current price 0.695
Support S1 0.669 -3.67%
S2 0.661 -4.84%
S3 0.655 -5.69%

FAQ

What is the symbol for ITM Power Plc Stock and on which exchange is it traded?
The symbol for ITM Power Plc is ITMPF and it is traded on the OTCMKTS (OTC Markets Group).

Should I buy or sell ITM Power Plc Stock?
ITM Power Plc 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.

How to buy ITM Power Plc Stock?
ITM Power Plc Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy ITM Power Plc Stock.

What's the current price of ITM Power Plc Stock?
As of the end of day on the 2024-03-28, the price of an ITM Power Plc (ITMPF) share was $0.695.

What is the 52-week high and low for ITM Power Plc Stock?
The 52-week high for ITM Power Plc Stock is $1.31 and the 52-week low is $0.518.

What is the market capitalization of ITM Power Plc Stock?
As of the 2024-03-28, the market capitalization of ITM Power Plc is 428.425M.
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About ITM Power Plc

ITM Power Plc ITM Power Plc designs, manufactures, and sells hydrogen energy systems for energy storage, transportation, and industrial sectors in the United Kingdom, Germany, rest of Europe, and the United States. It offers HGas for power-to-gas, clean fuel, and industrial hydrogen applications. The company is also involved in the development and manufacture of prototype products; and sale of electrolysis equipment and hydrogen storage solutions. ITM Power Pl... ITMPF Profile

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