Inuvo Inc Stock Forecast
Big movements in Inuvo Inc stock price on Wednesday moving 18.31% between high and low
(Updated on May 08, 2024)
The Inuvo Inc stock price fell by -4.37% on the last day (Wednesday, 8th May 2024) from $0.350 to $0.335. During the last trading day the stock fluctuated 18.31% from a day low at $0.320 to a day high of $0.379. The price has been going up and down for this period, and there has been a 1.39% gain for the last 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 -45 thousand shares and in total, 382 thousand shares were bought and sold for approximately $127.86 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -24.53% during the next 3 months and, with a 90% probability hold a price between $0.220 and $0.313 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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INUV Signals & Forecast
There are mixed signals in the stock today. 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 $0.336 and $0.340. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 4.59%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
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
Inuvo Inc finds support from accumulated volume at $0.330 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.0586 between high and low, or 18.31%. For the last week the stock has had daily average volatility of 9.77%.
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 Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Inuvo Inc to open at $0.344, and during the day (based on 14 day Average True Range), to move between $0.305 and $0.364, which gives a possible trading interval of +/-$0.0294 (+/-8.79%) up or down from last closing price. If Inuvo Inc takes out the full calculated possible swing range there will be an estimated 17.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.330 (1.37%) than the resistance at $0.341 (1.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Inuvo Inc stock A Buy?
Inuvo Inc holds several negative signals and we believe that 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 Buy to a Sell candidate.
Current score: -4.383 Sell Candidate Downgraded
Predicted Opening Price for Inuvo Inc of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $0.344 ( 2.91%) | $0.335 |
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 | 0.403 | 20.42 % | |
| R2 | 0.381 | 13.73 % | ||
| R1 | 0.367 | 9.60 % | ||
| Current price: | 0.335 | |||
| Support | S1 | 0.322 | -3.78 % | |
| S2 | 0.308 | -7.91 % | ||
| S3 | 0.286 | -14.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.412 | 23.21 % | |
| R2 | 0.350 | 4.57 % | ||
| R1 | 0.341 | 1.88 % | ||
| Current price | 0.335 | |||
| Support | S1 | 0.330 | -1.37% | |
| S2 | 0.330 | -1.40% | ||
| S3 | 0.321 | -4.09% |
FAQ
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