RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of IIIN
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Stronger technical forecast for Insteel Industries stock price after Wednesday trading.
(Updated on Mar 27, 2024)

Buy candidate since Mar 27, 2024 PDF

The Insteel Industries stock price gained 2.27% on the last trading day (Wednesday, 27th Mar 2024), rising from $36.98 to $37.82. During the last trading day the stock fluctuated 1.69% from a day low at $37.38 to a day high of $38.01. The price has risen in 6 of the last 10 days and is up by 7.41% 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, 17 thousand more shares were traded than the day before. In total, 50 thousand shares were bought and sold for approximately $1.88 million.

The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $37.84 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Insteel Industries stock with a 90% probability to be traded between $33.49 and $37.85 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

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IIIN Signals & Forecast

The Insteel Industries 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 $37.18 and $35.76. 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 Thursday, March 21, 2024, and so far it has fallen -0.0529%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Monday, March 18, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Buy
Special Signal Notification

Golden Star

The stock had a Golden Star Signal on Monday, March 18, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Insteel Industries stock

Insteel Industries finds support from accumulated volume at $35.96 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 $0.630 between high and low, or 1.69%. For the last week, the stock has had daily average volatility of 1.80%.

Our recommended stop-loss: $36.40 (-3.76%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (IIIN) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Insteel Industries to open at $37.74, and during the day (based on 14 day Average True Range), to move between $36.87 and $38.77, which gives a possible trading interval of +/-$0.95 (+/-2.52%) up or down from last closing price. If Insteel Industries takes out the full calculated possible swing range there will be an estimated 5.05% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $37.84 (0.05%) than the support at $35.96 (4.92%), 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 Insteel Industries stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Insteel Industries stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 3.745 Buy Candidate Upgraded

Predicted Opening Price for Insteel Industries of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$37.74 ( 0.220%) $37.82

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for IIIN

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 38.37 1.45 %
R2 38.13 0.81 %
R1 37.98 0.416 %
Current price: 37.82
Support S1 37.50 -0.86 %
S2 37.35 -1.25 %
S3 37.11 -1.89 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 38.88 2.80 %
R2 38.29 1.24 %
R1 37.84 0.0529 %
Current price 37.82
Support S1 35.96 -4.92%
S2 35.21 -6.90%
S3 34.18 -9.62%

IIIN Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Mar 14, 2024 Mar 14, 2024 Mar 29, 2024 $0.0300 0.0793%
2 Nov 14, 2023 Dec 07, 2023 Dec 22, 2023 $0.120 0.314%
3 Aug 15, 2023 Sep 14, 2023 Sep 29, 2023 $0.0300 0.0924%
4 May 16, 2023 Jun 15, 2023 Jun 30, 2023 $0.0300 0.0964%
5 Feb 14, 2023 Mar 16, 2023 Mar 31, 2023 $0.0300 0.108%

FAQ

What is the symbol for Insteel Industries Stock and on which exchange is it traded?
The symbol for Insteel Industries is IIIN and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Insteel Industries Stock?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Insteel Industries stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

How to buy Insteel Industries Stock?
Insteel Industries Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Insteel Industries Stock.

What's the current price of Insteel Industries Stock?
As of the end of day on the 2024-03-27, the price of an Insteel Industries (IIIN) share was $37.82.

What is the 52-week high and low for Insteel Industries Stock?
The 52-week high for Insteel Industries Stock is $39.38 and the 52-week low is $25.44.

What is the market capitalization of Insteel Industries Stock?
As of the 2024-03-27, the market capitalization of Insteel Industries is 735.535M.

When is the next earnings date for Insteel Industries?
The upcoming earnings date for Insteel Industries is Apr 25, 2024.
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About Insteel Industries

Insteel Industries Insteel Industries, Inc., together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers prestressed concrete strand (PC strand) and welded wire reinforcement (WWR) products. Its PC strand is a seven-wire strand that is used to impart compression forces into precast concrete elements and structures providing reinforcement for bridges, parking decks, buildings, an... IIIN Profile

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