Ingevity Corporation Stock Forecast
Red day on Thursday for Ingevity Corporation
(Updated on Apr 25, 2024)
The Ingevity Corporation stock price fell by -0.746% on the last day (Thursday, 25th Apr 2024) from $48.23 to $47.87. During the last trading day the stock fluctuated 1.77% from a day low at $47.15 to a day high of $47.98. The price has fallen in 7 of the last 10 days but is still up by 2.11% over the past 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 -48 thousand shares and in total, 181 thousand shares were bought and sold for approximately $8.69 million.
The stock lies in the middle of a wide and weak 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 4.33% during the next 3 months and, with a 90% probability hold a price between $45.56 and $52.59 at the end of this 3-month period.
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NGVT Signals & Forecast
The Ingevity Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $46.37 and $46.37. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -2.11%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Ingevity Corporation stock
Ingevity Corporation finds support from accumulated volume at $47.40 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 $0.83 between high and low, or 1.77%. For the last week, the stock has had daily average volatility of 3.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NGVT) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Ingevity Corporation to open at $47.67, and during the day (based on 14 day Average True Range), to move between $46.25 and $49.49, which gives a possible trading interval of +/-$1.62 (+/-3.39%) up or down from last closing price. If Ingevity Corporation takes out the full calculated possible swing range there will be an estimated 6.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $48.11 (0.50%) than the support at $47.40 (0.98%), 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.
Earnings coming up
Ingevity Corporation will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0700. We will update the financials statements for Ingevity Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.56% in the first trading day after earnings release.
Is Ingevity Corporation stock A Buy?
Ingevity Corporation 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.
Current score: -1.960 Sell Candidate Unchanged
Predicted Opening Price for Ingevity Corporation of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $47.67 ( 0.428%) | $47.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NGVT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 48.50 | 1.32 % | |
| R2 | 48.18 | 0.650 % | ||
| R1 | 47.98 | 0.238 % | ||
| Current price: | 47.87 | |||
| Support | S1 | 47.35 | -1.09 % | |
| S2 | 47.15 | -1.51 % | ||
| S3 | 46.83 | -2.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 48.95 | 2.26 % | |
| R2 | 48.23 | 0.752 % | ||
| R1 | 48.11 | 0.501 % | ||
| Current price | 47.87 | |||
| Support | S1 | 47.40 | -0.98% | |
| S2 | 45.27 | -5.43% | ||
| S3 | 44.97 | -6.06% |
FAQ
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