Mondor said that Inseego was originally known as Novatel Wireless and has been around for over 25 years. They now work with wireless carriers to bring 5G wireless to even the most remote places. Inseego is currently working with over 20 different carriers.
Let's check out the charts of INSG to see how strong their signal is.
In this daily bar chart of INSG, below, we can see some "interesting" movements. The first thing that strikes me is not the recent big swings up and down for the stock, but rather that every time there is a dip to the $4 area it has been bought - even in the middle of March when buyers could have easily stayed away.
Prices are above the rising 50-day moving average line and the rising 200-day moving average line. A bullish golden cross can be seen back in November. Trading volume has been increasing nicely since October and old-time chart readers like myself love to see that kind of positive relationship.
The daily On-Balance-Volume (OBV) line shows a rising trend the past 12 months with only a temporary dip in March before a new high is made this month.
The trend-following Moving Average Convergence Divergence (MACD) oscillator is clearly in a bull move up with only minor narrowing.
In this weekly bar chart of INSG, below, we can see that prices have been on the rise the past three years. There is a long sideways consolidation pattern around $2 and another pattern in the $4-$6 area. Let's call $5 the middle ground.
Prices have rallied more than five-fold from the first consolidation pattern and more than double from the second level. To me this means we could see prices rally to be a 10-bagger from $2 or even from $5. Pretty impressive.
INSG is above the rising 40-week moving average line. The weekly OBV line is giving us bullish confirmation of the price strength and the MACD oscillator is bullish and pointed higher.
In this daily Point and Figure chart of INSG, below, we can see a large base pattern going back several years. The software is projecting a potential price target of $30.
Bottom line strategy: After the recent sprint from $4 to over $13, INSG is entitled to "catch its breath" and trade sideways for a while. After this sideways consolidation or backing and filling I would imagine that the uptrend resumes. Traders should be patient and wait for a breakout to a new high before jumping in on the long side.