Inseego Corp Stock Forecast
Inseego Corp stock price ended at $3.05 on Tuesday, after gaining 1.67%.
(Updated on Apr 23, 2024)
The Inseego Corp stock price gained 1.67% on the last trading day (Tuesday, 23rd Apr 2024), rising from $3.00 to $3.05. During the last trading day the stock fluctuated 5.80% from a day low at $2.93 to a day high of $3.10. The price has been going up and down for this period, and there has been a 15.53% gain for the last 2 weeks. Volume fell on the last day by -70 thousand shares and in total, 34 thousand shares were bought and sold for approximately $102.83 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and weak 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 5.58% during the next 3 months and, with a 90% probability hold a price between $2.34 and $3.97 at the end of this 3-month period.
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INSG Signals & Forecast
The Inseego Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $2.62 and $2.81. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -13.11%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Inseego Corp stock
Inseego Corp finds support from accumulated volume at $3.04 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.170 between high and low, or 5.80%. For the last week the stock has had daily average volatility of 10.20%.
Our recommended stop-loss: $2.89 (-5.34%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 31 days ago.)
Trading Expectations (INSG) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Inseego Corp to open at $3.03, and during the day (based on 14 day Average True Range), to move between $2.81 and $3.29, which gives a possible trading interval of +/-$0.239 (+/-7.83%) up or down from last closing price. If Inseego Corp takes out the full calculated possible swing range there will be an estimated 15.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.04 (0.33%) than the resistance at $3.39 (11.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Inseego Corp will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.450. We will update the financials statements for Inseego Corp, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.04% in the first trading day after earnings release.
Is Inseego Corp stock A Buy?
Inseego Corp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.989 Hold/Accumulate Unchanged
Predicted Opening Price for Inseego Corp of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $3.03 ( 0.765%) | $3.05 |
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 | 3.20 | 4.81 % | |
| R2 | 3.13 | 2.68 % | ||
| R1 | 3.09 | 1.36 % | ||
| Current price: | 3.05 | |||
| Support | S1 | 2.96 | -2.89 % | |
| S2 | 2.92 | -4.21 % | ||
| S3 | 2.86 | -6.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.61 | 18.36 % | |
| R2 | 3.51 | 15.08 % | ||
| R1 | 3.39 | 11.15 % | ||
| Current price | 3.05 | |||
| Support | S1 | 3.04 | -0.328% | |
| S2 | 3.00 | -1.64% | ||
| S3 | 2.44 | -20.00% |
FAQ
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