Honda Motor Company Ltd Stock Forecast
Honda Motor Company Ltd stock price down 0.749% on Thursday
(Updated on Apr 18, 2024)
The Honda Motor Company Ltd stock price fell by -0.749% on the last day (Thursday, 18th Apr 2024) from $34.71 to $34.45. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 1.02% from a day low at $34.43 to a day high of $34.78. The price has fallen in 6 of the last 10 days and is down by -4.83% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -152 thousand shares and in total, 613 thousand shares were bought and sold for approximately $21.13 million.
Given the current short-term trend, the stock is expected to rise 11.25% during the next 3 months and, with a 90% probability hold a price between $38.33 and $43.19 at the end of this 3-month period.
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HMC Signals & Forecast
There are few to no technical positive signals at the moment. The Honda Motor Company Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $35.64 and $36.22. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 22, 2024, and so far it has fallen -8.57%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Honda Motor Company Ltd stock
Honda Motor Company Ltd finds support from accumulated volume at $34.06 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.350 (1.02%) between high and low. For the last week, the stock has had daily average volatility of 1.29%.
Honda Motor Company Ltd is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HMC) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Honda Motor Company Ltd to open at $34.55, and during the day (based on 14 day Average True Range), to move between $33.92 and $34.98, which gives a possible trading interval of +/-$0.527 (+/-1.53%) up or down from last closing price. If Honda Motor Company Ltd takes out the full calculated possible swing range there will be an estimated 3.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $34.06 (1.13%) than the resistance at $36.24 (5.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Honda Motor Company Ltd stock A Buy?
The Honda Motor Company Ltd stock holds several negative signals and despite the positive trend, we believe Honda Motor Company Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.694 Sell Candidate Unchanged
Predicted Opening Price for Honda Motor Company Ltd of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $34.55 ( 0.300%) | $34.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HMC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.90 | 1.32 % | |
| R2 | 34.77 | 0.93 % | ||
| R1 | 34.69 | 0.688 % | ||
| Current price: | 34.45 | |||
| Support | S1 | 34.42 | -0.0881 % | |
| S2 | 34.34 | -0.328 % | ||
| S3 | 34.20 | -0.716 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.08 | 7.63 % | |
| R2 | 36.43 | 5.75 % | ||
| R1 | 36.24 | 5.20 % | ||
| Current price | 34.45 | |||
| Support | S1 | 34.06 | -1.13% | |
| S2 | 33.34 | -3.22% | ||
| S3 | 32.20 | -6.53% |
HMC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Mar 27, 2024 | $0.550 | 1.47% |
| 2 | Sep 01, 2023 | Sep 28, 2023 | Dec 12, 2023 | $0.440 | 1.44% |
| 3 | Mar 02, 2023 | Mar 29, 2023 | Jun 13, 2023 | $0.320 | 1.01% |
| 4 | Sep 28, 2022 | Sep 28, 2022 | Jun 13, 2022 | $0.310 | 1.29% |
| 5 | Mar 29, 2022 | Mar 29, 2022 | Mar 29, 2022 | $0.400 | 1.38% |
FAQ
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