Ingredion Incorporated Stock Forecast
Evaluation of Ingredion Incorporated stock downgraded after the last trading session.
(Updated on Apr 17, 2024)
The Ingredion Incorporated stock price fell by -0.206% on the last day (Wednesday, 17th Apr 2024) from $111.52 to $111.29. During the last trading day the stock fluctuated 1.71% from a day low at $110.63 to a day high of $112.52. The price has fallen in 8 of the last 10 days and is down by -2.73% for this period. Volume has increased on the last day by 62 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 381 thousand shares were bought and sold for approximately $42.41 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $110.33 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 5.41% during the next 3 months and, with a 90% probability hold a price between $116.30 and $125.95 at the end of this 3-month period.
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INGR Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 1.05%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ingredion Incorporated 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 $111.57 and $115.48. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Ingredion Incorporated stock
Ingredion Incorporated finds support from accumulated volume at $110.79 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.89 (1.71%) between high and low. For the last week, the stock has had daily average volatility of 1.68%.
Ingredion Incorporated is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INGR) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Ingredion Incorporated to open at $111.48, and during the day (based on 14 day Average True Range), to move between $109.68 and $112.90, which gives a possible trading interval of +/-$1.61 (+/-1.45%) up or down from last closing price. If Ingredion Incorporated takes out the full calculated possible swing range there will be an estimated 2.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $110.79 (0.45%) than the resistance at $115.86 (4.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ingredion Incorporated stock A Buy?
The Ingredion Incorporated stock holds several negative signals and despite the positive trend, we believe Ingredion Incorporated will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.397 Sell Candidate Downgraded
Predicted Opening Price for Ingredion Incorporated of Thursday, April 18, 2024
Fair opening price April 18, 2024 | Current price |
---|---|
$111.48 ( 0.171%) | $111.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INGR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 113.37 | 1.87 % | |
R2 | 112.65 | 1.22 % | ||
R1 | 112.20 | 0.82 % | ||
Current price: | 111.29 | |||
Support | S1 | 110.76 | -0.478 % | |
S2 | 110.31 | -0.88 % | ||
S3 | 109.59 | -1.53 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 117.13 | 5.25 % | |
R2 | 116.33 | 4.53 % | ||
R1 | 115.86 | 4.11 % | ||
Current price | 111.29 | |||
Support | S1 | 110.79 | -0.449% | |
S2 | 110.68 | -0.548% | ||
S3 | 109.71 | -1.42% |
INGR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | $0 | 0% |
2 | Dec 12, 2023 | Dec 29, 2023 | Jan 23, 2024 | $0.780 | 0.715% |
3 | Aug 08, 2023 | Sep 29, 2023 | Oct 24, 2023 | $0.780 | 0.85% |
4 | May 19, 2023 | Jun 30, 2023 | Jul 25, 2023 | $0.710 | 0.647% |
5 | Mar 15, 2023 | Mar 31, 2023 | Apr 25, 2023 | $0.710 | 0.684% |
FAQ
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