Inotiv, Inc. Stock Forecast
Inotiv, Inc. stock price up 2.72% on Thursday
(Updated on Mar 28, 2024)
The Inotiv, Inc. stock price gained 2.72% on the last trading day (Thursday, 28th Mar 2024), rising from $10.65 to $10.94. During the last trading day the stock fluctuated 8.12% from a day low at $10.35 to a day high of $11.19. The price has risen in 8 of the last 10 days and is up by 32.29% 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, 26 thousand more shares were traded than the day before. In total, 308 thousand shares were bought and sold for approximately $3.37 million.
The stock lies in the upper part of a very 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 $11.42 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 203.81% during the next 3 months and, with a 90% probability hold a price between $24.53 and $34.69 at the end of this 3-month period.
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NOTV Signals & Forecast
The Inotiv, 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 $10.42 and $7.69. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. 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 Monday, March 25, 2024, and so far it has fallen -0.91%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Inotiv, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $10.04 and $9.13. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Inotiv, Inc. finds support just below today's level at $10.04. If this is broken, then the next support from accumulated volume will be at $9.13 and $8.95.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.84 between high and low, or 8.12%. For the last week, the stock has had daily average volatility of 11.00%.
Our recommended stop-loss: $10.51 (-3.95%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (NOTV) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Inotiv, Inc. to open at $10.83, and during the day (based on 14 day Average True Range), to move between $10.06 and $11.82, which gives a possible trading interval of +/-$0.88 (+/-8.04%) up or down from last closing price. If Inotiv, Inc. takes out the full calculated possible swing range there will be an estimated 16.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.04 (0.91%) than the support at $10.04 (8.23%), 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 Inotiv, 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 Inotiv, Inc. stock to perform well in the short-term.
Current score: 2.547 Buy Candidate Unchanged
Predicted Opening Price for Inotiv, Inc. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$10.83 ( 1.04%) | $10.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NOTV
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.67 | 6.64 % | |
R2 | 11.35 | 3.71 % | ||
R1 | 11.15 | 1.90 % | ||
Current price: | 10.94 | |||
Support | S1 | 10.51 | -3.97 % | |
S2 | 10.31 | -5.78 % | ||
S3 | 9.99 | -8.71 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 11.04 | 0.91 % | ||
Current price | 10.94 | |||
Support | S1 | 10.04 | -8.23% | |
S2 | 9.13 | -16.54% | ||
S3 | 8.95 | -18.19% |
FAQ
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