Inovio Pharmaceuticals, Inc. (NASDAQ:INO) gained 3.97% in yesterday’s day, going up from its prior closing price of $6.05 to $6.29. The price has fallen in 6 of the last 10 days, but is still up by 3.45% during the last two weeks. The upbeat movement of both volume and price during the recent session is interpreted as a good sign, and, overall 1.46 million more shares exchanged hands compared with prior day. In total, 2.13 M shares exchanged hands for about $13.39 million.
Inside INO’s Recent Trend
Inovio Pharmaceuticals, Inc. (INO) has broken the very wide and falling short-term trend up. Initially a lower tendency for declines in the price is indicated and this might very well be an early sign that a trend shift is more likely to happen in the next couple of days. In case of reaction, the stock will see strong support at $6.06, a point that may provide a 2nd chance needed to hit a runner. The next trend top is most likely to be exhibited at $8.12 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
Inovio Pharmaceuticals, Inc. Technical Signals
INO has witnessed its long term and short term MA triggering a buy signal. Many traders watch for short-term averages to cross above long-term averages to signal the beginning of an uptrend. Upon corrections, the price will meet support from the averages between $6.03 and $5.77. A break down through these support points will trigger sell signals. Its pivot point low generated buy signal on Thursday September 14, 2017, which calls for additional surge until the stock forms a new pivot point high. There was increase in both volume and price. This is usually interpreted as a good sign as traders widely believe rising stock should see increasing volume.
Inovio Pharmaceuticals, Inc. (NASDAQ:INO) Support And Resistance Levels
Inovio Pharmaceuticals, Inc. (INO) recorded volume accumulation so there will probably be a surplus of buyers at $6.01. In case of gains, the next resistance from accumulated volume will be at $6.78, $7.77 and $7.83.
Inovio Pharmaceuticals, Inc. (INO) Risk Assessment
The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $0.37 (6.09%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 3.07%.