Inspire Medical Systems Inc. Stock Forecast
Weaker technical forecast for Inspire Medical Systems Inc. as stock downgraded to Hold/Accumulate.
(Updated on Apr 24, 2024)
The Inspire Medical Systems Inc. stock price gained 0.111% on the last trading day (Wednesday, 24th Apr 2024), rising from $233.93 to $234.19. During the last trading day the stock fluctuated 1.83% from a day low at $232.77 to a day high of $237.03. The price has fallen in 7 of the last 10 days and is down by -2.51% for this period. Volume fell on the last day by -67 thousand shares and in total, 225 thousand shares were bought and sold for approximately $52.67 million. 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 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 14.45% during the next 3 months and, with a 90% probability hold a price between $225.64 and $281.57 at the end of this 3-month period.
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INSP Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 17, 2024, and so far it has fallen -3.83%. 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). The Inspire Medical Systems Inc. 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 $232.69 and $213.81. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Inspire Medical Systems Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $202.16 and $202.01. 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, Inspire Medical Systems Inc. finds support just below today's level at $202.16. If this is broken, then the next support from accumulated volume will be at $202.01 and $197.56.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $4.26 between high and low, or 1.83%. For the last week, the stock has had daily average volatility of 4.70%.
Our recommended stop-loss: $223.77 (-4.45%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (INSP) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Inspire Medical Systems Inc. to open at $234.66, and during the day (based on 14 day Average True Range), to move between $223.12 and $245.26, which gives a possible trading interval of +/-$11.07 (+/-4.73%) up or down from last closing price. If Inspire Medical Systems Inc. takes out the full calculated possible swing range there will be an estimated 9.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $240.23 (2.58%) than the support at $202.16 (13.68%), 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.
Is Inspire Medical Systems Inc. stock A Buy?
Inspire Medical Systems Inc. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.702 Hold/Accumulate Downgraded
Predicted Opening Price for Inspire Medical Systems Inc. of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$234.66 ( 0.202%) | $234.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INSP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 238.92 | 2.02 % | |
R2 | 237.30 | 1.33 % | ||
R1 | 236.29 | 0.90 % | ||
Current price: | 234.19 | |||
Support | S1 | 233.04 | -0.493 % | |
S2 | 232.03 | -0.92 % | ||
S3 | 230.40 | -1.62 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 243.51 | 3.98 % | |
R2 | 241.15 | 2.97 % | ||
R1 | 240.23 | 2.58 % | ||
Current price | 234.19 | |||
Support | S1 | 202.16 | -13.68% | |
S2 | 202.01 | -13.74% | ||
S3 | 197.56 | -15.64% |
INSP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Nov 21, 2007 | Jan 09, 2008 | Jan 09, 2008 | $9.00 | 0% |
FAQ
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