Inseego Corp Stock Forecast
Inseego Corp stock price ended at $2.32 on Wednesday, after gaining 3.11%.
(Updated on Apr 17, 2024)
The Inseego Corp stock price gained 3.11% on the last trading day (Wednesday, 17th Apr 2024), rising from $2.25 to $2.32. During the last trading day the stock fluctuated 5.24% from a day low at $2.29 to a day high of $2.41. The price has fallen in 7 of the last 10 days and is down by -16.55% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 23 thousand shares were bought and sold for approximately $53.46 thousand.
The stock lies in the middle of a very 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 31.65% during the next 3 months and, with a 90% probability hold a price between $1.55 and $5.68 at the end of this 3-month period.
INSG Signals & Forecast
Inseego Corp has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Inseego Corp 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 $2.41 and $2.82. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 15, 2024, and so far it has fallen -35.73%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Inseego Corp stock
Inseego Corp finds support from accumulated volume at $2.30 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the 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 $0.120 between high and low, or 5.24%. For the last week, the stock has had daily average volatility of 6.06%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INSG) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Inseego Corp to open at $2.34, and during the day (based on 14 day Average True Range), to move between $2.10 and $2.54, which gives a possible trading interval of +/-$0.216 (+/-9.31%) up or down from last closing price. If Inseego Corp takes out the full calculated possible swing range there will be an estimated 18.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.30 (0.86%) than the resistance at $2.44 (5.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Inseego Corp stock A Buy?
The Inseego Corp stock holds several negative signals and despite the positive trend, we believe Inseego Corp will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.917 Sell Candidate Unchanged
Predicted Opening Price for Inseego Corp of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $2.34 ( 0.86%) | $2.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INSG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.46 | 6.03 % | |
| R2 | 2.41 | 4.06 % | ||
| R1 | 2.39 | 2.84 % | ||
| Current price: | 2.32 | |||
| Support | S1 | 2.29 | -1.11 % | |
| S2 | 2.27 | -2.33 % | ||
| S3 | 2.22 | -4.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.86 | 23.28 % | |
| R2 | 2.79 | 20.26 % | ||
| R1 | 2.44 | 5.17 % | ||
| Current price | 2.32 | |||
| Support | S1 | 2.30 | -0.86% | |
| S2 | 2.26 | -2.59% | ||
| S3 | 2.07 | -10.78% |
FAQ
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