Insulet Corporation Stock Forecast
Evaluation of Insulet Corporation stock downgraded after the last trading session.
(Updated on Apr 17, 2024)
The Insulet Corporation stock price fell by -3.73% on the last day (Wednesday, 17th Apr 2024) from $172.71 to $166.26. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 5.12% from a day low at $165.10 to a day high of $173.55. The price has fallen in 6 of the last 10 days but is still up by 0.85% over the past 2 weeks. Volume has increased on the last day by 66 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, 671 thousand shares were bought and sold for approximately $111.51 million.
The stock lies in the middle of a 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 -17.74% during the next 3 months and, with a 90% probability hold a price between $129.73 and $145.75 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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PODD Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 1.84%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Insulet Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $174.74 and $170.04. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Insulet Corporation stock
Insulet Corporation finds support from accumulated volume at $164.00 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 $8.45 between high and low, or 5.12%. For the last week, the stock has had daily average volatility of 3.50%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PODD) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Insulet Corporation to open at $168.30, and during the day (based on 14 day Average True Range), to move between $160.22 and $172.30, which gives a possible trading interval of +/-$6.04 (+/-3.63%) up or down from last closing price. If Insulet Corporation takes out the full calculated possible swing range there will be an estimated 7.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $166.62 (0.22%) than the support at $164.00 (1.36%), 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 Insulet Corporation stock A Buy?
Insulet Corporation holds several negative signals and is within a wide and falling trend, so we believe 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 Hold/Accumulate to a Sell candidate.
Current score: -2.674 Sell Candidate Downgraded
Predicted Opening Price for Insulet Corporation of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $168.30 ( 1.23%) | $166.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PODD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 176.75 | 6.31 % | |
| R2 | 173.53 | 4.37 % | ||
| R1 | 171.53 | 3.17 % | ||
| Current price: | 166.26 | |||
| Support | S1 | 165.08 | -0.712 % | |
| S2 | 163.08 | -1.91 % | ||
| S3 | 159.85 | -3.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 184.21 | 10.80 % | |
| R2 | 168.83 | 1.55 % | ||
| R1 | 166.62 | 0.217 % | ||
| Current price | 166.26 | |||
| Support | S1 | 164.00 | -1.36% | |
| S2 | 163.93 | -1.40% | ||
| S3 | 163.60 | -1.60% |
FAQ
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