Insulet Corporation Forecast and Stock Analysis
Technical PODD stock analysis for February 15, 2019.
Insulet Corporation gained 4.28% in the last trading day, rising from $84.83 to $88.46 The price has risen in 6 of the last 10 days and is up by 7.19% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 73 900 more shares were traded than the day before. In total, 623 016 shares bought and sold for approximately $55.11 million.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the PODD stock was $88.46. This is 4.28% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 5.34% from a day low at $84.12 to a day high of $88.61.
30 day high of the PODD stock price was $88.61 and low was $72.65.
90 day high was $88.61 and low was $70.80.
52 week high for the Insulet Corporation - $108.91 and low - $70.80.
Insulet Corporation has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $86.91 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $101.10 sometime during the next 3 months.
Only positive signals in the chart today. Insulet Corporation holds buy signals from both short- and long-term moving averages. In addition, 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 $84.11 and $78.19. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday February 04, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
The stock holds a RSI14 at 78 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $77.15 and $76.46.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Insulet Corporation finds support just below today's level at $77.15. If this is broken, then the next support from accumulated volume will be at $76.46 and $74.21.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $4.49 between high and low, or 5.34%. For the last week, the stock has had a daily average volatility of 3.87%.
The stock is extremely overbought on RSI14 (78). Normally this will pose a good selling opportunity, but since the stock has broken the trend up the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stoploss: $84.97 (-3.95%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from pivot bottom found 9 days ago.)
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Evaluation: Strong Buy Candidate
Insulet Corporation holds several positive signals and has broken the wide and horizontal trend up. As the stock is in great technical shape, we therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Strong Buy Candidate.