Ingevity Corporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Ingevity Corporation stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Ingevity Corporation stock price fell by -1.37% on the last day (Wednesday, 24th Apr 2024) from $48.90 to $48.23. During the last trading day the stock fluctuated 1.97% from a day low at $48.16 to a day high of $49.11. The price has fallen in 7 of the last 10 days but is still up by 2.25% over the past 2 weeks. Volume has increased on the last day by 730 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, 229 thousand shares were bought and sold for approximately $11.06 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 4.23% during the next 3 months and, with a 90% probability hold a price between $45.48 and $52.46 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 $45.89 and $46.32. 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 -1.37%. 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.
A sell signal from a double top formation was found on Tuesday, April 09, 2024 and based on theory for this formation the price should fall by -17.12% to $39.97 within 31 trading days since signal was issued (Thursday, April 25, 2024).
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 $0.95 between high and low, or 1.97%. For the last week, the stock has had daily average volatility of 3.35%.
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 Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Ingevity Corporation to open at $48.50, and during the day (based on 14 day Average True Range), to move between $46.56 and $49.90, which gives a possible trading interval of +/-$1.67 (+/-3.45%) up or down from last closing price. If Ingevity Corporation takes out the full calculated possible swing range there will be an estimated 6.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $48.44 (0.44%) than the support at $47.40 (1.72%), 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?
The Ingevity Corporation stock holds several negative signals and despite the positive trend, we believe Ingevity Corporation will perform weakly in the next couple of days or weeks. Therefore, we 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 Hold/Accumulate to a Sell candidate.
Current score: -3.090 Sell Candidate Downgraded
Predicted Opening Price for Ingevity Corporation of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $48.50 ( 0.560%) | $48.23 |
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 | 49.45 | 2.53 % | |
| R2 | 49.09 | 1.78 % | ||
| R1 | 48.86 | 1.31 % | ||
| Current price: | 48.23 | |||
| Support | S1 | 48.14 | -0.193 % | |
| S2 | 47.91 | -0.657 % | ||
| S3 | 47.55 | -1.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 48.95 | 1.49 % | |
| R2 | 48.90 | 1.39 % | ||
| R1 | 48.44 | 0.435 % | ||
| Current price | 48.23 | |||
| Support | S1 | 47.40 | -1.72% | |
| S2 | 45.27 | -6.14% | ||
| S3 | 44.97 | -6.76% |
FAQ
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