Insulet Corporation Stock Forecast
Evaluation of Insulet Corporation stock downgraded after the last trading session.
(Updated on Apr 23, 2024)
The Insulet Corporation stock price gained 1.73% on the last trading day (Tuesday, 23rd Apr 2024), rising from $164.42 to $167.27. During the last trading day the stock fluctuated 2.56% from a day low at $164.61 to a day high of $168.82. The price has fallen in 7 of the last 10 days and is down by -6.03% for this period. Volume fell on the last day by -84 thousand shares and in total, 550 thousand shares were bought and sold for approximately $91.95 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 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 -16.16% during the next 3 months and, with a 90% probability hold a price between $130.94 and $146.97 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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PODD Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 2.46%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Insulet Corporation 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 $167.94 and $169.98. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Insulet Corporation stock
Insulet Corporation finds support from accumulated volume at $166.62 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 $4.21 between high and low, or 2.56%. For the last week, the stock has had daily average volatility of 3.14%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PODD) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Insulet Corporation to open at $166.90, and during the day (based on 14 day Average True Range), to move between $161.67 and $172.87, which gives a possible trading interval of +/-$5.60 (+/-3.35%) up or down from last closing price. If Insulet Corporation takes out the full calculated possible swing range there will be an estimated 6.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $166.62 (0.39%) than the resistance at $168.83 (0.93%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Insulet Corporation stock A Buy?
Insulet Corporation 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.679 Sell Candidate Downgraded
Predicted Opening Price for Insulet Corporation of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $166.90 ( 0.221%) | $167.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PODD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 171.11 | 2.30 % | |
| R2 | 169.50 | 1.33 % | ||
| R1 | 168.51 | 0.740 % | ||
| Current price: | 167.27 | |||
| Support | S1 | 165.29 | -1.18 % | |
| S2 | 164.30 | -1.78 % | ||
| S3 | 162.69 | -2.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 190.87 | 14.11 % | |
| R2 | 184.21 | 10.13 % | ||
| R1 | 168.83 | 0.93 % | ||
| Current price | 167.27 | |||
| Support | S1 | 166.62 | -0.389% | |
| S2 | 164.00 | -1.95% | ||
| S3 | 163.60 | -2.19% |
FAQ
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