Model N Inc Stock Forecast
Red day on Thursday for Model N Inc
(Updated on Apr 18, 2024)
The Model N Inc stock price fell by -0.101% on the last day (Thursday, 18th Apr 2024) from $29.80 to $29.77. During the last trading day the stock fluctuated 0.336% from a day low at $29.75 to a day high of $29.85. The price has fallen in 5 of the last 10 days but is still up by 11% over the past 2 weeks. Volume has increased on the last day by 209 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, 1 million shares were bought and sold for approximately $31.08 million.
The stock lies in the upper part of a wide and weak 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 $29.94 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 4.86% during the next 3 months and, with a 90% probability hold a price between $25.73 and $31.40 at the end of this 3-month period.
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MODN Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -0.201%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Model N 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 $29.73 and $26.99. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Model N Inc stock
Model N Inc finds support from accumulated volume at $29.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.100 between high and low, or 0.336%. For the last week, the stock has had daily average volatility of 0.411%.
Our recommended stop-loss: $28.93 (-2.82%) (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 (MODN) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Model N Inc to open at $29.79, and during the day (based on 14 day Average True Range), to move between $29.19 and $30.35, which gives a possible trading interval of +/-$0.580 (+/-1.95%) up or down from last closing price. If Model N Inc takes out the full calculated possible swing range there will be an estimated 3.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $29.80 (0.10%) than the support at $29.70 (0.24%), 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 Model N Inc stock A Buy?
Model N 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.
Current score: 0.263 Hold/Accumulate Unchanged
Predicted Opening Price for Model N Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $29.79 ( 0.0672%) | $29.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MODN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.89 | 0.403 % | |
| R2 | 29.85 | 0.275 % | ||
| R1 | 29.83 | 0.195 % | ||
| Current price: | 29.77 | |||
| Support | S1 | 29.75 | -0.0611 % | |
| S2 | 29.73 | -0.140 % | ||
| S3 | 29.69 | -0.269 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.83 | 0.202 % | |
| R2 | 29.82 | 0.168 % | ||
| R1 | 29.80 | 0.101 % | ||
| Current price | 29.77 | |||
| Support | S1 | 29.70 | -0.235% | |
| S2 | 29.66 | -0.369% | ||
| S3 | 29.65 | -0.403% |
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