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INOV - Inovalon Holdings

Industry: Healthcare Information Services Sector: Technology Exchange: NASDAQ

Fri 15'th Jun 2018

PERIOD 2018-03-16 - 2018-06-15
CHANGE 1.90%
PRICE $10.70
VOLUME
Buy
TREND
Sell

MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Buy

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Inovalon Holdings Stock Analysis

Technical stock analysis for Fri 15'th Jun 2018

Buy candidate since 2018-06-15

Inovalon Holdings gained 1.90% in the last trading day, rising from $10.50 to $10.70 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 6 of the last 10 days and is up by 1.9% 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, 81 941 more shares were traded than the day before. In total, 718 789 shares bought and sold for approximately $0.00.

Shorts 9.80% ( 2018-05-31 )
Cash 1 533.4 mill
Loans 744.2 mill
Beta 1.03
ROA 1.29

Trend

Inovalon Holdings lies the upper part of a wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $11.02 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.73% during the next 3 months and, with 90% probability hold a price between $8.65 and $10.72 at the end of this period.

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Signals

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 $10.46 and $10.32. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday June 11, 2018, 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.

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A buy signal from a double bottom formation was found on Monday June 11, 2018 and based on theory for this formation the price should go up by 0.60% to $10.90 within 8 trading days since signal was issued (Thursday June 21, 2018).

Relative Strength Index (RSI)

RSI14 is 61 and the stock is currently not being overbought or oversold

Access full RSI 14 and RSI 21 lists

Support & Resistance

Inovalon Holdings finds support from accumulated volume at $10.50.

Support: $10.50 Price: $10.70 Resistance: $10.80

Risk

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 $0.50 (4.85%) between high and low. For the last week, the stock has had a daily average volatility of 3.40%.

Our recommended stoploss: $10.20 (-4.69%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 4 days ago.)

Overall risk:

Very Low Low Medium High Very High

Evaluation

Several short-term signals are positive, despite the stock being in a falling trend, 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.

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