Inseego Corp Stock Forecast
On Wednesday, Inseego Corp stock price gained an impressive 5.90%
(Updated on Apr 24, 2024)
The Inseego Corp stock price gained 5.90% on the last trading day (Wednesday, 24th Apr 2024), rising from $3.05 to $3.23. During the last trading day the stock fluctuated 9.32% from a day low at $3.00 to a day high of $3.28. The price has risen in 5 of the last 10 days and is up by 26.67% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 42 thousand more shares were traded than the day before. In total, 76 thousand shares were bought and sold for approximately $244.36 thousand.
The stock lies in the middle of a very 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 6.09% during the next 3 months and, with a 90% probability hold a price between $2.37 and $4.00 at the end of this 3-month period.
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INSG Signals & Forecast
The Inseego Corp 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 $2.75 and $2.81. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Inseego Corp has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Friday, March 08, 2024, and so far it has fallen -7.98%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Inseego Corp stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.04 and $3.00. There is a 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, Inseego Corp finds support just below today's level at $3.04. If this is broken, then the next support from accumulated volume will be at $3.00 and $2.86.
This stock may move much during the 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 $0.280 between high and low, or 9.32%. For the last week, the stock has had daily average volatility of 11.02%.
Our recommended stop-loss: $3.05 (-5.59%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 32 days ago.)
Trading Expectations (INSG) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Inseego Corp to open at $3.17, and during the day (based on 14 day Average True Range), to move between $2.99 and $3.47, which gives a possible trading interval of +/-$0.241 (+/-7.47%) up or down from last closing price. If Inseego Corp takes out the full calculated possible swing range there will be an estimated 14.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.39 (4.95%) than the support at $3.04 (5.88%), 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
Inseego Corp will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.450. We will update the financials statements for Inseego Corp, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.04% in the first trading day after earnings release.
Is Inseego Corp stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Inseego Corp stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.005 Buy Candidate Upgraded
Predicted Opening Price for Inseego Corp of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $3.17 ( 1.86%) | $3.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INSG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.45 | 6.80 % | |
| R2 | 3.34 | 3.49 % | ||
| R1 | 3.28 | 1.45 % | ||
| Current price: | 3.23 | |||
| Support | S1 | 3.06 | -5.17 % | |
| S2 | 3.00 | -7.21 % | ||
| S3 | 2.89 | -10.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.61 | 11.76 % | |
| R2 | 3.51 | 8.67 % | ||
| R1 | 3.39 | 4.95 % | ||
| Current price | 3.23 | |||
| Support | S1 | 3.04 | -5.88% | |
| S2 | 3.00 | -7.12% | ||
| S3 | 2.86 | -11.46% |
FAQ
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