Inseego Corp Stock Forecast
Inseego Corp stock price down 0.248% on Wednesday
(Updated on May 01, 2024)
The Inseego Corp stock price fell by -0.248% on the last day (Wednesday, 1st May 2024) from $4.03 to $4.02. During the last trading day the stock fluctuated 6.40% from a day low at $3.87 to a day high of $4.12. The price has risen in 7 of the last 10 days and is up by 73.28% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -16 thousand shares and in total, 46 thousand shares were bought and sold for approximately $185.12 thousand.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may 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 $4.19 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 11.27% during the next 3 months and, with a 90% probability hold a price between $2.59 and $4.67 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. Also, 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 $3.70 and $2.93. 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 Monday, April 29, 2024, and so far it has fallen -3.83%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Inseego Corp stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.61 and $3.39. There is a 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, Inseego Corp finds support just below today's level at $3.61. If this is broken, then the next support from accumulated volume will be at $3.39 and $3.04.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.248 between high and low, or 6.40%. For the last week the stock has had daily average volatility of 14.23%.
The Inseego Corp stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $3.83 (-4.70%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 84 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (INSG) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Inseego Corp to open at $4.00, and during the day (based on 14 day Average True Range), to move between $3.70 and $4.34, which gives a possible trading interval of +/-$0.320 (+/-7.96%) up or down from last closing price. If Inseego Corp takes out the full calculated possible swing range there will be an estimated 15.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.03 (0.25%) than the support at $3.61 (10.20%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Inseego Corp will release earnings AMC 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 +/- 8.88% in the first trading day after earnings release.
Is Inseego Corp stock A Buy?
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 Inseego Corp stock to perform well in the short-term.
Current score: 3.710 Buy Candidate Unchanged
Predicted Opening Price for Inseego Corp of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$4.00 ( 0.396%) | $4.02 |
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 | 4.25 | 5.77 % | |
R2 | 4.16 | 3.41 % | ||
R1 | 4.10 | 1.96 % | ||
Current price: | 4.02 | |||
Support | S1 | 3.91 | -2.75 % | |
S2 | 3.85 | -4.20 % | ||
S3 | 3.76 | -6.56 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 4.18 | 3.98 % | ||
R1 | 4.03 | 0.249 % | ||
Current price | 4.02 | |||
Support | S1 | 3.61 | -10.20% | |
S2 | 3.39 | -15.67% | ||
S3 | 3.04 | -24.38% |
FAQ
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