HealthEquity Stock Forecast
Stronger technical forecast for HealthEquity stock price after Friday trading.
(Updated on Apr 26, 2024)
The HealthEquity stock price gained 1.54% on the last trading day (Friday, 26th Apr 2024), rising from $79.04 to $80.26. During the last trading day the stock fluctuated 2.95% from a day low at $78.40 to a day high of $80.71. The price has been going up and down for this period, and there has been a 0.51% gain for the last 2 weeks. Volume fell on the last day by -222 thousand shares and in total, 370 thousand shares were bought and sold for approximately $29.73 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 is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect HealthEquity stock with a 90% probability to be traded between $80.43 and $85.79 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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HQY Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 2.18%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The HealthEquity stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $80.68. On a fall, the stock will find some support from the short-term average at $80.04. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for HealthEquity stock
HealthEquity finds support from accumulated volume at $79.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.31 between high and low, or 2.95%. For the last week the stock has had daily average volatility of 1.97%.
Our recommended stop-loss: $76.07 (-5.23%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (HQY) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect HealthEquity to open at $79.79, and during the day (based on 14 day Average True Range), to move between $78.39 and $82.13, which gives a possible trading interval of +/-$1.87 (+/-2.32%) up or down from last closing price. If HealthEquity takes out the full calculated possible swing range there will be an estimated 4.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $79.90 (0.45%) than the resistance at $81.05 (0.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is HealthEquity stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for HealthEquity stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.374 Buy Candidate Upgraded
Predicted Opening Price for HealthEquity of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $79.79 ( 0.586%) | $80.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HQY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 82.10 | 2.29 % | |
| R2 | 81.22 | 1.19 % | ||
| R1 | 80.67 | 0.514 % | ||
| Current price: | 80.26 | |||
| Support | S1 | 78.91 | -1.69 % | |
| S2 | 78.36 | -2.36 % | ||
| S3 | 77.48 | -3.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 81.63 | 1.71 % | |
| R2 | 81.36 | 1.37 % | ||
| R1 | 81.05 | 0.98 % | ||
| Current price | 80.26 | |||
| Support | S1 | 79.90 | -0.449% | |
| S2 | 79.85 | -0.511% | ||
| S3 | 79.20 | -1.32% |
FAQ
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