Can I get a notification for a term that Is/Is not at a certain rank?

Yes. To add a new notification:

At the left menu, click Reports Center -> Notifications -> Trigger Notifications.

At the top-right click Add New Report.

• Set your preferred report's settings.

• On "Send a notification when any of the Terms rankings" check the box near "Is" or ”Is Not” and type the rank.

• Fill the filtering settings for the terms that you want the notification to be triggered for.

• Set your preferred Columns & Sorting.

• Click Save.

If any of the terms of the selected URLs are/are not in the wanted rank, you will be notified (unless setting a "Check now (instant export)" report).