HCP Inc Stock Forecast
Big movements in HCP Inc stock price on Wednesday moving 10.57% between high and low
(Updated on Apr 24, 2024)
The HCP Inc stock price gained 7.75% on the last trading day (Wednesday, 24th Apr 2024), rising from $29.15 to $31.41. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 10.57% from a day low at $29.14 to a day high of $32.22. The price has risen in 6 of the last 10 days and is up by 19.2% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 19 million shares were bought and sold for approximately $584.41 million.
The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $30.24, a level that may pose a second chance to hit a runner. According to fan-theory $36.62 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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HCP Signals & Forecast
The HCP Inc 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 $25.70 and $26.28. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 34.06%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for HCP Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $29.15 and $28.64. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, HCP Inc finds support just below today's level at $29.15. If this is broken, then the next support from accumulated volume will be at $28.64 and $26.56.
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 $3.08 between high and low, or 10.57%. For the last week, the stock has had daily average volatility of 9.96%.
Our recommended stop-loss: $30.29 (-3.56%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (HCP) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect HCP Inc to open at $30.92, and during the day (based on 14 day Average True Range), to move between $29.92 and $32.90, which gives a possible trading interval of +/-$1.49 (+/-4.73%) up or down from last closing price. If HCP Inc takes out the full calculated possible swing range there will be an estimated 9.46% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $29.15, some $2.26 (7.20%) from the current price of $31.41, our system finds the risk reward attractive.
Is HCP Inc stock A Buy?
HCP Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for HCP Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $30.92 ( 1.55%) | $31.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HCP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.00 | 8.26 % | |
| R2 | 32.83 | 4.51 % | ||
| R1 | 32.10 | 2.20 % | ||
| Current price: | 31.41 | |||
| Support | S1 | 29.75 | -5.30 % | |
| S2 | 29.02 | -7.61 % | ||
| S3 | 27.84 | -11.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 31.41 | |||
| Support | S1 | 29.15 | -7.20% | |
| S2 | 28.64 | -8.82% | ||
| S3 | 26.56 | -15.44% |
HCP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 23, 2019 | Nov 01, 2019 | Nov 19, 2019 | $0.370 | 0% |
| 2 | Jul 25, 2019 | Aug 02, 2019 | Aug 20, 2019 | $0.370 | 0% |
| 3 | Apr 25, 2019 | May 03, 2019 | May 21, 2019 | $0.370 | 0% |
| 4 | Jan 31, 2019 | Feb 15, 2019 | Feb 28, 2019 | $0.370 | 0% |
| 5 | Oct 25, 2018 | Nov 02, 2018 | Nov 20, 2018 | $0.370 | 0% |
FAQ
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