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Inuvo Enters Google Service Agreement: Stock Technicals To Watch

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Inuvo Enters Google Service Agreement: Stock Technicals To Watch

Inuvo Inc (NYSE: INUV) shares were trading on higher volume during Tuesday’s session following an announcement that the company has entered into a Google Services Agreement to utilize Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL)-owned Google’s web search service and Adsense for search on approved websites.

The following are some technical levels to watch for in Inuvo shares. The stock was up 14.5% at $1.50 at last check. 

Inuvo Technical Levels: The 15-minute chart shown below shows there is what technical traders may call speculative short-term support at the price level of $1.50 and a short-term speculative resistance at the Tuesday premarket high of $1.95.

Ideally a bullish technical trader may like to see the price move above the premarket high of $1.95 and consolidate above this level for a time before the next move up.

A bearish technical trader may like to see the price fall below the speculative support level of $1.50. It is possible that after the price breaks through this support level that there will be a further sell-off, pushing the price down more.

inuv15min3-2-21.png

The daily chart shown below shows the stock has been trading on increased volume for the past three months. The chart shows what technical traders may call a speculative support at the $1 level.

The $1 level is also a major psychological level. The chart also shows what technical traders may call a speculative resistance at the $2 price level. The chart shows that $2 has been broken before, but there has never been a daily candle that has been able to close above the $2 price level.

inuvdaily3-2-21.png

Inuvo currently has a market cap of $154.3 million and a public float that consists of 95.89 million shares.

 

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