Inovalon Holdings Forecast and Stock Analysis
Technical INOV stock analysis for February 15, 2019.
Inovalon Holdings gained 5.49% in the last trading day, rising from $14.22 to $15.00 The price has risen in 6 of the last 10 days and is up by 8.23% 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, 600 876 more shares were traded than the day before. In total, 863 302 shares bought and sold for approximately $12.95 million.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the INOV stock was $15.00. This is 5.49% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 7.60% from a day low at $14.47 to a day high of $15.57.
30 day high of the INOV stock price was $15.57 and low was $13.45.
90 day high was $15.57 and low was $10.84.
52 week high for the Inovalon Holdings - $15.57 and low - $8.90.
Inovalon Holdings lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 20.57% during the next 3 months and, with 90% probability hold a price between $16.42 and $19.18 at the end of this period.
Only positive signals in the chart today. Inovalon Holdings 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 $14.19 and $14.18. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday February 08, 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)
RSI14 is 62 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $14.23 and $13.81.
There is 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, Inovalon Holdings finds support just below today's level at $14.23. If this is broken, then the next support from accumulated volume will be at $13.81 and $13.20.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $1.10 (7.60%) between high and low. For the last week, the stock has had a daily average volatility of 4.02%.
Our recommended stoploss: $14.40 (-3.97%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 5 days ago.)
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Evaluation: Buy Candidate
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 this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.