Inuvo Inc 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 GOOG 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.
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.
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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