Inari Medical, Inc. Stock Forecast
Red day on Monday for Inari Medical, Inc.
(Updated on Apr 29, 2024)
The Inari Medical, Inc. stock price fell by -1.22% on the last day (Monday, 29th Apr 2024) from $38.42 to $37.95. During the last trading day the stock fluctuated 5.20% from a day low at $37.32 to a day high of $39.26. The price has fallen in 8 of the last 10 days and is down by -3.9% for this period. Volume has increased on the last day by 993 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $66.88 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -34.72% during the next 3 months and, with a 90% probability hold a price between $23.27 and $27.96 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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NARI Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 2.26%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Inari Medical, 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 $38.04 and $41.93. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Inari Medical, Inc. stock
Inari Medical, Inc. finds support from accumulated volume at $37.93 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.94 between high and low, or 5.20%. For the last week, the stock has had daily average volatility of 4.16%.
Inari Medical, Inc. is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NARI) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Inari Medical, Inc. to open at $38.18, and during the day (based on 14 day Average True Range), to move between $36.22 and $39.68, which gives a possible trading interval of +/-$1.73 (+/-4.56%) up or down from last closing price. If Inari Medical, Inc. takes out the full calculated possible swing range there will be an estimated 9.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $37.93 (0.05%) than the resistance at $45.40 (19.63%), 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
Inari Medical, Inc. will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.110. We will update the financials statements for Inari Medical, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.51% in the first trading day after earnings release.
Is Inari Medical, Inc. stock A Buy?
Inari Medical, Inc. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.628 Sell Candidate Unchanged
Predicted Opening Price for Inari Medical, Inc. of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $38.18 ( 0.597%) | $37.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NARI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.12 | 5.71 % | |
| R2 | 39.38 | 3.76 % | ||
| R1 | 38.92 | 2.55 % | ||
| Current price: | 37.95 | |||
| Support | S1 | 37.44 | -1.36 % | |
| S2 | 36.98 | -2.56 % | ||
| S3 | 36.24 | -4.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.12 | 21.53 % | |
| R2 | 46.11 | 21.50 % | ||
| R1 | 45.40 | 19.63 % | ||
| Current price | 37.95 | |||
| Support | S1 | 37.93 | -0.0527% | |
| S2 | 37.11 | -2.21% | ||
| S3 | 0 | . |
FAQ
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