Huntington Bancshares Incorporated Stock Forecast

Huntington Bancshares Incorporated stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 18, 2024)

HBAN Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.07%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Huntington Bancshares Incorporated 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 $13.29 and $13.42. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Huntington Bancshares Incorporated stock

Huntington Bancshares Incorporated finds support from accumulated volume at $13.05 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 $0.230 (1.76%) between high and low. For the last week, the stock has had daily average volatility of 2.23%.

Our recommended stop-loss: $12.39 (-5.97%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (HBAN) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Huntington Bancshares Incorporated to open at $13.20, and during the day (based on 14 day Average True Range), to move between $12.87 and $13.49, which gives a possible trading interval of +/-$0.314 (+/-2.38%) up or down from last closing price. If Huntington Bancshares Incorporated takes out the full calculated possible swing range there will be an estimated 4.76% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $13.05 (0.99%) than the resistance at $13.44 (1.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Huntington Bancshares Incorporated stock A Buy?

Huntington Bancshares Incorporated holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.183 Hold/Accumulate Upgraded

Predicted Opening Price for Huntington Bancshares Incorporated of Friday, April 19, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.