Impinj Inc Stock Forecast
Green day on Friday for Impinj Inc stock after gaining 0.94%
(Updated on May 03, 2024)
The Impinj Inc stock price gained 0.94% on the last trading day (Friday, 3rd May 2024), rising from $159.73 to $161.23. During the last trading day the stock fluctuated 3.39% from a day low at $158.09 to a day high of $163.45. The price has risen in 7 of the last 10 days and is up by 38.61% over the past 2 weeks. Volume fell on the last day by -230 thousand shares and in total, 336 thousand shares were bought and sold for approximately $54.24 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 has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $145.28, a level that may pose a second chance to hit a runner. According to fan-theory $167.28 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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PI Signals & Forecast
Mostly positive signals in the chart today. The Impinj 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 $156.99 and $129.92. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 38.61%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for Impinj Inc stock
Impinj Inc finds support from accumulated volume at $155.55 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 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 $5.36 between high and low, or 3.39%. For the last week, the stock has had daily average volatility of 4.41%.
The Impinj Inc stock is extremely overbought on RSI14 (76). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $156.43 (-2.98%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (PI) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Impinj Inc to open at $160.92, and during the day (based on 14 day Average True Range), to move between $153.81 and $168.65, which gives a possible trading interval of +/-$7.42 (+/-4.61%) up or down from last closing price. If Impinj Inc takes out the full calculated possible swing range there will be an estimated 9.21% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $155.55, some $5.68 (3.52%) from the current price of $161.23, our system finds the risk reward attractive.
Is Impinj Inc stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Impinj Inc stock to perform well in the short-term period.
Current score: 5.338 Strong Buy Candidate Unchanged
Predicted Opening Price for Impinj Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $160.92 ( 0.190%) | $161.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 166.28 | 3.13 % | |
| R2 | 164.24 | 1.86 % | ||
| R1 | 162.97 | 1.08 % | ||
| Current price: | 161.23 | |||
| Support | S1 | 158.88 | -1.46 % | |
| S2 | 157.61 | -2.24 % | ||
| S3 | 155.56 | -3.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 161.23 | |||
| Support | S1 | 155.55 | -3.52% | |
| S2 | 150.91 | -6.40% | ||
| S3 | 124.59 | -22.73% |
FAQ
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