Inuvo Inc Stock Forecast
Inuvo Inc stock downgraded to Strong Sell Candidate
(Updated on Apr 19, 2024)
The Inuvo Inc stock price fell by -2.74% on the last day (Friday, 19th Apr 2024) from $0.329 to $0.320. During the last trading day the stock fluctuated 9.19% from a day low at $0.311 to a day high of $0.340. The price has fallen in 7 of the last 10 days and is down by -9.4% for this period. Volume has increased on the last day by 74 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 178 thousand shares were bought and sold for approximately $56.87 thousand.
The stock has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($0.340) are considered to be a "second chance" to get out. According to the fan-theory $0.213 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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INUV Signals & Forecast
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. The Inuvo Inc 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 $0.329 and $0.382. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -37.19%. Further fall is indicated until a new bottom pivot has been found. Inuvo Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Thursday, March 07, 2024 with a target of $0.434. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Inuvo Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0286 between high and low, or 9.19%. For the last week, the stock has had daily average volatility of 8.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INUV) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Inuvo Inc to open at $0.324, and during the day (based on 14 day Average True Range), to move between $0.289 and $0.351, which gives a possible trading interval of +/-$0.0314 (+/-9.82%) up or down from last closing price. If Inuvo Inc takes out the full calculated possible swing range there will be an estimated 19.63% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.330, some $0.0100 (3.13%) from the current price of $0.320, our system finds the risk reward not very attractive.
Is Inuvo Inc stock A Buy?
Inuvo Inc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.704 Strong Sell Candidate Downgraded
Predicted Opening Price for Inuvo Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $0.324 ( 1.17%) | $0.320 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INUV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.352 | 10.10 % | |
| R2 | 0.341 | 6.69 % | ||
| R1 | 0.335 | 4.58 % | ||
| Current price: | 0.320 | |||
| Support | S1 | 0.313 | -2.25 % | |
| S2 | 0.306 | -4.36 % | ||
| S3 | 0.295 | -7.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.379 | 18.47 % | |
| R2 | 0.341 | 6.56 % | ||
| R1 | 0.330 | 3.13 % | ||
| Current price | 0.320 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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