Hanmi Financial Corporation Stock Forecast
Hanmi Financial Corporation stock upgraded to Buy Candidate.
(Updated on Apr 23, 2024)
The Hanmi Financial Corporation stock price gained 2.83% on the last trading day (Tuesday, 23rd Apr 2024), rising from $15.21 to $15.64. During the last trading day the stock fluctuated 4.39% from a day low at $15.04 to a day high of $15.70. The price has risen in 5 of the last 10 days and is up by 0.45% over the past 2 weeks. Volume fell on the last day by -32 thousand shares and in total, 131 thousand shares were bought and sold for approximately $2.06 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.85% during the next 3 months and, with a 90% probability hold a price between $13.40 and $15.05 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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HAFC Signals & Forecast
The Hanmi Financial Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $14.92 and $15.22. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 8.01%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Hanmi Financial Corporation stock
Hanmi Financial Corporation finds support from accumulated volume at $15.21 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.660 between high and low, or 4.39%. For the last week, the stock has had daily average volatility of 2.88%.
Our recommended stop-loss: $15.11 (-3.38%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (HAFC) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Hanmi Financial Corporation to open at $15.46, and during the day (based on 14 day Average True Range), to move between $15.23 and $16.05, which gives a possible trading interval of +/-$0.412 (+/-2.63%) up or down from last closing price. If Hanmi Financial Corporation takes out the full calculated possible swing range there will be an estimated 5.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $15.74 (0.64%) than the support at $15.21 (2.75%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Hanmi Financial Corporation stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.362 Buy Candidate Upgraded
Predicted Opening Price for Hanmi Financial Corporation of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $15.46 ( 1.15%) | $15.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HAFC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.12 | 3.07 % | |
| R2 | 15.87 | 1.46 % | ||
| R1 | 15.71 | 0.461 % | ||
| Current price: | 15.64 | |||
| Support | S1 | 15.21 | -2.76 % | |
| S2 | 15.05 | -3.76 % | ||
| S3 | 14.80 | -5.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.75 | 7.10 % | |
| R2 | 15.87 | 1.47 % | ||
| R1 | 15.74 | 0.639 % | ||
| Current price | 15.64 | |||
| Support | S1 | 15.21 | -2.75% | |
| S2 | 14.86 | -4.99% | ||
| S3 | 14.85 | -5.05% |
HAFC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 25, 2024 | Feb 02, 2024 | Feb 22, 2024 | $0.250 | 1.67% |
| 2 | Nov 03, 2023 | Nov 03, 2023 | Nov 22, 2023 | $0.250 | 1.51% |
| 3 | Aug 06, 2023 | Aug 04, 2023 | Aug 23, 2023 | $0.250 | 1.45% |
| 4 | Aug 03, 2023 | May 05, 2023 | May 24, 2023 | $0.250 | 1.67% |
| 5 | Jan 26, 2023 | Feb 03, 2023 | Feb 23, 2023 | $0.250 | 1.03% |
FAQ
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