Innovative Food Holdings Inc Stock Forecast
Strong day for Innovative Food Holdings Inc stock price on Tuesday rising 5.08% to $1.24
(Updated on Jun 25, 2024)
The Innovative Food Holdings Inc stock price gained 5.08% on the last trading day (Tuesday, 25th Jun 2024), rising from $1.18 to $1.24. During the last trading day the stock fluctuated 6.90% from a day low at $1.16 to a day high of $1.24. The price has risen in 5 of the last 10 days and is up by 5.08% over the past 2 weeks. Volume fell on the last day by -189 thousand shares and in total, 7 thousand shares were bought and sold for approximately $8.94 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 lies in the middle of a 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 32.25% during the next 3 months and, with a 90% probability hold a price between $1.42 and $1.72 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
IVFH Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -2.36%. 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). 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. The Innovative Food Holdings 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 $1.24 and $1.14. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Innovative Food Holdings Inc stock
Innovative Food Holdings Inc finds support from accumulated volume at $1.18 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 $0.0800 between high and low, or 6.90%. For the last week the stock has had daily average volatility of 3.72%.
Our recommended stop-loss: $1.19 (-3.89%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (IVFH) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Innovative Food Holdings Inc to open at $1.21, and during the day (based on 14 day Average True Range), to move between $1.20 and $1.28, which gives a possible trading interval of +/-$0.0443 (+/-3.57%) up or down from last closing price. If Innovative Food Holdings Inc takes out the full calculated possible swing range there will be an estimated 7.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.25 (0.81%) than the support at $1.18 (4.84%), 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 Innovative Food Holdings Inc stock A Buy?
Innovative Food Holdings Inc 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: 0.710 Hold/Accumulate Unchanged
Predicted Opening Price for Innovative Food Holdings Inc of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $1.21 ( 2.15%) | $1.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IVFH
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.29 | 4.30% |
| R2 | 1.26 | 1.84% |
| R1 | 1.24 | 0.314% |
| Price | 1.24 | |
| S1 | 1.18 | -4.62% |
| S2 | 1.16 | -6.14% |
| S3 | 1.13 | -8.60% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.27 | 2.42% |
| R2 | 1.26 | 1.61% |
| R1 | 1.25 | 0.81% |
| Price | 1.24 | |
| S1 | 1.18 | -4.84% |
| S2 | 1.15 | -7.26% |
| S3 | 0.98 | -20.97% |
FAQ
Click here for our free guide on how to buy Innovative Food Holdings Inc Stock.
