Itron Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Itron stock price ended at $91.54 on Wednesday, after losing 0.630%.
(Updated on May 01, 2024)
The Itron stock price fell by -0.630% on the last day (Wednesday, 1st May 2024) from $92.12 to $91.54. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.06% from a day low at $90.03 to a day high of $93.69. The price has fallen in 7 of the last 10 days but is still up by 1.13% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -134 thousand shares and in total, 629 thousand shares were bought and sold for approximately $57.56 million.
The stock lies in the lower part of a 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 $88.88 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 20.92% during the next 3 months and, with a 90% probability hold a price between $107.47 and $129.90 at the end of this 3-month period.
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ITRI Signals & Forecast
The Itron stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $94.00. On a fall, the stock will find some support from the long-term average at approximately $90.82. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -4.50%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Itron stock
Itron finds support from accumulated volume at $91.52 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 $3.66 (4.06%) between high and low. For the last week, the stock has had daily average volatility of 3.74%.
Our recommended stop-loss: $86.36 (-5.66%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 38 days ago.)
Trading Expectations (ITRI) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Itron to open at $91.75, and during the day (based on 14 day Average True Range), to move between $88.88 and $94.20, which gives a possible trading interval of +/-$2.66 (+/-2.91%) up or down from last closing price. If Itron takes out the full calculated possible swing range there will be an estimated 5.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $91.52 (0.02%) than the resistance at $92.12 (0.63%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Itron will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.85. We will update the financials statements for Itron, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.63% in the first trading day after earnings release.
Is Itron stock A Buy?
Itron 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: 0.053 Hold/Accumulate Unchanged
Predicted Opening Price for Itron of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $91.75 ( 0.231%) | $91.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ITRI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 95.41 | 4.22 % | |
| R2 | 94.01 | 2.70 % | ||
| R1 | 93.15 | 1.76 % | ||
| Current price: | 91.54 | |||
| Support | S1 | 90.36 | -1.29 % | |
| S2 | 89.49 | -2.24 % | ||
| S3 | 88.10 | -3.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 94.15 | 2.85 % | |
| R2 | 92.52 | 1.07 % | ||
| R1 | 92.12 | 0.634 % | ||
| Current price | 91.54 | |||
| Support | S1 | 91.52 | -0.0218% | |
| S2 | 91.46 | -0.0874% | ||
| S3 | 91.03 | -0.557% |
FAQ
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