Insulet Corporation Stock Forecast

PODD Signals & Forecast

Mostly positive signals in the chart today. The Insulet Corporation 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 $188.27 and $159.09. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, October 12, 2023, and so far it has risen 50.42%. 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.

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Support, Risk & Stop-loss for Insulet Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $178.53 and $163.71. 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, Insulet Corporation finds support just below today's level at $178.53. If this is broken, then the next support from accumulated volume will be at $163.71 and $145.51.

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 $6.63 between high and low, or 3.57%. For the last week, the stock has had daily average volatility of 3.10%.

The Insulet Corporation stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $187.12 (-2.64%) (This stock has high daily movements and this gives high risk. The RSI14 is 93 and this increases the risk substantially. There is a buy signal from a pivot bottom found 35 days ago.)

Trading Expectations (PODD) For The Upcoming Trading Day Of Monday 4th

For the upcoming trading day on Monday, 4th we expect Insulet Corporation to open at $190.19, and during the day (based on 14 day Average True Range), to move between $185.11 and $199.27, which gives a possible trading interval of +/-$7.08 (+/-3.68%) up or down from last closing price. If Insulet Corporation takes out the full calculated possible swing range there will be an estimated 7.37% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $193.40 (0.63%) than the support at $178.53 (7.11%), 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 Insulet Corporation 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 Insulet Corporation stock to perform well in the short-term.

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