Innospec Inc. Stock Forecast
Innospec Inc. stock price down 0.740% on Wednesday
(Updated on Apr 24, 2024)
The Innospec Inc. stock price fell by -0.740% on the last day (Wednesday, 24th Apr 2024) from $122.95 to $122.04. During the last trading day the stock fluctuated 1.28% from a day low at $121.37 to a day high of $122.92. The price has fallen in 6 of the last 10 days and is down by -0.11% for this period. Volume has increased on the last day by 2 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, 58 thousand shares were bought and sold for approximately $7.09 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $121.00 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.73% during the next 3 months and, with a 90% probability hold a price between $126.72 and $137.58 at the end of this 3-month period.
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IOSP Signals & Forecast
There are mixed signals in the stock today. The Innospec Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $124.39. On a fall, the stock will find some support from the short-term average at $121.61. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.26%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Innospec Inc. stock
Innospec Inc. finds support from accumulated volume at $121.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.55 (1.28%) between high and low. For the last week, the stock has had daily average volatility of 1.52%.
Our recommended stop-loss: $116.28 (-4.72%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (IOSP) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Innospec Inc. to open at $122.11, and during the day (based on 14 day Average True Range), to move between $119.77 and $124.31, which gives a possible trading interval of +/-$2.27 (+/-1.86%) up or down from last closing price. If Innospec Inc. takes out the full calculated possible swing range there will be an estimated 3.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $122.07 (0.02%) than the support at $121.50 (0.44%), 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 Innospec Inc. 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 Innospec Inc. stock to perform well in the short-term.
Current score: 1.697 Buy Candidate Unchanged
Predicted Opening Price for Innospec Inc. of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$122.11 ( 0.0574%) | $122.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IOSP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 123.66 | 1.33 % | |
R2 | 123.07 | 0.84 % | ||
R1 | 122.70 | 0.543 % | ||
Current price: | 122.04 | |||
Support | S1 | 121.52 | -0.428 % | |
S2 | 121.15 | -0.728 % | ||
S3 | 120.56 | -1.21 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 125.97 | 3.22 % | |
R2 | 125.37 | 2.73 % | ||
R1 | 122.07 | 0.0246 % | ||
Current price | 122.04 | |||
Support | S1 | 121.50 | -0.442% | |
S2 | 120.25 | -1.47% | ||
S3 | 117.06 | -4.08% |
IOSP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Nov 06, 2023 | Nov 17, 2023 | Nov 27, 2023 | $0.720 | 0.679% |
2 | May 02, 2023 | May 19, 2023 | May 31, 2023 | $0.690 | 0.747% |
3 | May 10, 2023 | Nov 18, 2022 | Nov 28, 2022 | $0.650 | 0.595% |
4 | May 03, 2022 | May 16, 2022 | May 26, 2022 | $0.630 | 0.616% |
5 | Nov 02, 2021 | Nov 15, 2021 | Nov 24, 2021 | $0.590 | 0.676% |
FAQ
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