Fri 15'th Jun 2018
Inovalon Holdings Stock Analysis
Technical stock analysis for Fri 15'th Jun 2018
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|
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.
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.
Relative Strength Index (RSI)
RSI14 is 61 and the stock is currently not being overbought or oversold
Support & Resistance
Inovalon Holdings finds support from accumulated volume at $10.50.
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.)
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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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