Iveda Solutions, Inc. Stock Forecast
Evaluation of Iveda Solutions, Inc. stock downgraded after the last trading session.
(Updated on Apr 24, 2024)
The Iveda Solutions, Inc. stock price gained 0.385% on the last trading day (Wednesday, 24th Apr 2024), rising from $0.91 to $0.91. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 8.63% from a day low at $0.87 to a day high of $0.95. The price has risen in 6 of the last 10 days and is up by 13.72% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 thousand more shares were traded than the day before. In total, 70 thousand shares were bought and sold for approximately $63.95 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 21.14% during the next 3 months and, with a 90% probability hold a price between $0.91 and $1.49 at the end of this 3-month period.
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IVDA Signals & Forecast
The Iveda Solutions, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.87 and $0.82. A breakdown below any of these levels will issue sell signals. Iveda Solutions, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Tuesday, February 20, 2024, and so far it has fallen -14.93%. 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 Iveda Solutions, Inc. stock
Iveda Solutions, Inc. finds support from accumulated volume at $0.90 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0755 between high and low, or 8.63%. For the last week, the stock has had daily average volatility of 8.82%.
Our recommended stop-loss: $0.86 (-5.74%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 45 days ago.)
Trading Expectations (IVDA) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Iveda Solutions, Inc. to open at $0.91, and during the day (based on 14 day Average True Range), to move between $0.84 and $0.99, which gives a possible trading interval of +/-$0.0750 (+/-8.22%) up or down from last closing price. If Iveda Solutions, Inc. takes out the full calculated possible swing range there will be an estimated 16.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.90 (1.32%) than the resistance at $0.99 (8.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Iveda Solutions, Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Iveda Solutions, Inc. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.268 Buy Candidate Downgraded
Predicted Opening Price for Iveda Solutions, Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.91 ( 0.0110%) | $0.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IVDA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.99 | 8.29 % | |
| R2 | 0.96 | 5.13 % | ||
| R1 | 0.94 | 3.17 % | ||
| Current price: | 0.91 | |||
| Support | S1 | 0.88 | -3.15 % | |
| S2 | 0.87 | -5.11 % | ||
| S3 | 0.84 | -8.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.07 | 17.54 % | |
| R2 | 1.01 | 10.75 % | ||
| R1 | 0.99 | 8.32 % | ||
| Current price | 0.91 | |||
| Support | S1 | 0.90 | -1.32% | |
| S2 | 0.90 | -1.43% | ||
| S3 | 0.719 | -21.16% |
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