Inogen Stock Analysis
Technical stock analysis for 18 January 2019
Inogen gained 1.07% in the last trading day, rising from $148.54 to $150.13 , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. The price has risen in 8 of the last 10 days and is up by 17.38% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 78 200 more shares were traded than the day before. In total, 547 170 shares bought and sold for approximately $82.15 million.
Close price at the end of the last trading day (Friday, 18th Jan 2019) of the INGN stock was $150.13. This is 1.07% more than the trading day before Thursday, 17th Jan 2019.
During day the stock fluctuated 2.18% from a day low at $149.49 to a day high of $152.74.
30 day high of the INGN stock price was $152.74 and low was $110.51.
90 day high was $205.34 and low was $110.51.
52 week high for the Inogen - $287.79 and low - $110.51.
Inogen has broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction there will be support on the roof on the current trend broken, which is $143.82, a level that may pose a second chance to hit a runner. According to fan-theory $199.76 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
Only positive signals in the chart today. Inogen holds buy signals from both short- and long-term moving averages. In addition, 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 $143.84 and $133.81. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday January 11, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
The stock holds a RSI14 at 77 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
Inogen finds support from accumulated volume at $148.81.
This stock may move much during a 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 $3.26 between high and low, or 2.18%. For the last week, the stock has had a daily average volatility of 4.97%.
The stock is extremely overbought on RSI14 (77). Normally this will 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. Since the Inogen has been rising for 6 days in a row, the risk for the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stoploss: $143.45 (-4.45%) (This stock has high daily movements and this gives high risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from pivot bottom found 5 days ago.)
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Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
|INGN $150.13 $1.59(1.07%)|
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