Model N Inc Stock Forecast
Green day on Friday for Model N Inc stock after gaining 0.0675%
(Updated on Apr 26, 2024)
The Model N Inc stock price gained 0.0675% on the last trading day (Friday, 26th Apr 2024), rising from $29.62 to $29.64. During the last trading day the stock fluctuated 0.169% from a day low at $29.64 to a day high of $29.69. The price has fallen in 5 of the last 10 days and is down by -0.27% for this period. Volume fell on the last day by -879 thousand shares and in total, 436 thousand shares were bought and sold for approximately $12.92 million. 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 upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $30.45 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 12.96% during the next 3 months and, with a 90% probability hold a price between $29.28 and $34.40 at the end of this 3-month period.
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MODN Signals & Forecast
The Model N Inc 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 $29.64. On a fall, the stock will find some support from the long-term average at approximately $27.87. 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. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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, April 11, 2024, and so far it has fallen -0.637%. 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 Model N Inc stock
Model N Inc finds support from accumulated volume at $29.62 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 $0.0500 between high and low, or 0.169%. For the last week, the stock has had daily average volatility of 0.412%.
Our recommended stop-loss: $28.52 (-3.79%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (MODN) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Model N Inc to open at $29.66, and during the day (based on 14 day Average True Range), to move between $29.21 and $30.07, which gives a possible trading interval of +/-$0.429 (+/-1.45%) up or down from last closing price. If Model N Inc takes out the full calculated possible swing range there will be an estimated 2.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $29.65 (0.03%) than the support at $29.62 (0.07%), 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 Model N Inc stock A Buy?
Model N 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.
Current score: 0.716 Hold/Accumulate Unchanged
Predicted Opening Price for Model N Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $29.66 ( 0.0562%) | $29.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MODN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.71 | 0.225 % | |
| R2 | 29.69 | 0.160 % | ||
| R1 | 29.68 | 0.121 % | ||
| Current price: | 29.64 | |||
| Support | S1 | 29.64 | -0.0082 % | |
| S2 | 29.63 | -0.0480 % | ||
| S3 | 29.61 | -0.112 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.82 | 0.607 % | |
| R2 | 29.66 | 0.0675 % | ||
| R1 | 29.65 | 0.0337 % | ||
| Current price | 29.64 | |||
| Support | S1 | 29.62 | -0.0675% | |
| S2 | 29.56 | -0.270% | ||
| S3 | 25.05 | -15.49% |
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