Iteos Therapeutics Inc. Stock Forecast
Iteos Therapeutics Inc. stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 21, 2024)
The Iteos Therapeutics Inc. stock price gained 0.407% on the last trading day (Friday, 21st Jun 2024), rising from $14.74 to $14.80. During the last trading day the stock fluctuated 3.30% from a day low at $14.54 to a day high of $15.02. The price has fallen in 8 of the last 10 days and is down by -11.9% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 581 thousand more shares were traded than the day before. In total, 1 000 thousand shares were bought and sold for approximately $14.79 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $14.53 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 46.96% during the next 3 months and, with a 90% probability hold a price between $21.35 and $29.98 at the end of this 3-month period.
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ITOS Signals & Forecast
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 Iteos Therapeutics 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 $15.53 and $16.03. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -18.19%. 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).
Support, Risk & Stop-loss for Iteos Therapeutics Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $13.17 and $13.12. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Iteos Therapeutics Inc. finds support just below today's level at $13.17. If this is broken, then the next support from accumulated volume will be at $13.12 and $12.68.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.480 between high and low, or 3.30%. For the last week, the stock has had daily average volatility of 4.73%.
Our recommended stop-loss: $13.84 (-6.48%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 44 days ago.)
Trading Expectations (ITOS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Iteos Therapeutics Inc. to open at $14.79, and during the day (based on 14 day Average True Range), to move between $14.05 and $15.55, which gives a possible trading interval of +/-$0.752 (+/-5.08%) up or down from last closing price. If Iteos Therapeutics Inc. takes out the full calculated possible swing range there will be an estimated 10.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.17 (11.01%) than the resistance at $16.72 (12.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Iteos Therapeutics Inc. stock A Buy?
Iteos Therapeutics Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.117 Hold/Accumulate Upgraded
Predicted Opening Price for Iteos Therapeutics Inc. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $14.79 ( 0.0905%) | $14.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ITOS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.27 | 3.15% |
| R2 | 15.08 | 1.91% |
| R1 | 14.97 | 1.15% |
| Price | 14.80 | |
| S1 | 14.60 | -1.33% |
| S2 | 14.49 | -2.09% |
| S3 | 14.31 | -3.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.44 | 17.84% |
| R2 | 17.02 | 15.00% |
| R1 | 16.72 | 12.97% |
| Price | 14.80 | |
| S1 | 13.17 | -11.01% |
| S2 | 13.12 | -11.35% |
| S3 | 12.68 | -14.32% |
FAQ
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