Harvard Bioscience Stock Forecast
Harvard Bioscience stock upgraded from Sell Candidate to Buy Candidate after Monday trading session.
(Updated on Apr 15, 2024)
The Harvard Bioscience stock price gained 4.72% on the last trading day (Monday, 15th Apr 2024), rising from $4.24 to $4.44. During the last trading day the stock fluctuated 7.23% from a day low at $4.15 to a day high of $4.45. The price has risen in 6 of the last 10 days and is up by 4.23% 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, 50 thousand more shares were traded than the day before. In total, 138 thousand shares were bought and sold for approximately $613.01 thousand.
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 -6.57% during the next 3 months and, with a 90% probability hold a price between $3.69 and $4.31 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.
HBIO Signals & Forecast
The Harvard Bioscience stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $4.39 and $4.31. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Harvard Bioscience has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -4.10%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Harvard Bioscience stock
Harvard Bioscience finds support from accumulated volume at $4.30 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 $0.300 between high and low, or 7.23%. For the last week, the stock has had daily average volatility of 7.20%.
Our recommended stop-loss: $4.21 (-5.17%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (HBIO) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Harvard Bioscience to open at $4.35, and during the day (based on 14 day Average True Range), to move between $4.17 and $4.71, which gives a possible trading interval of +/-$0.269 (+/-6.05%) up or down from last closing price. If Harvard Bioscience takes out the full calculated possible swing range there will be an estimated 12.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.50 (1.35%) than the support at $4.30 (3.15%), 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.
Earnings coming up
Harvard Bioscience will release earnings BMO on Tuesday, April 23, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0600. We will update the financials statements for Harvard Bioscience, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.68% in the first trading day after earnings release.
Is Harvard Bioscience 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 Sell to a Buy candidate.
Current score: 1.191 Buy Candidate Upgraded
Predicted Opening Price for Harvard Bioscience of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $4.35 ( 2.10%) | $4.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HBIO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.65 | 4.65 % | |
| R2 | 4.53 | 2.07 % | ||
| R1 | 4.46 | 0.479 % | ||
| Current price: | 4.44 | |||
| Support | S1 | 4.23 | -4.68 % | |
| S2 | 4.16 | -6.28 % | ||
| S3 | 4.05 | -8.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.69 | 5.63 % | |
| R2 | 4.52 | 1.80 % | ||
| R1 | 4.50 | 1.35 % | ||
| Current price | 4.44 | |||
| Support | S1 | 4.30 | -3.15% | |
| S2 | 4.15 | -6.53% | ||
| S3 | 4.05 | -8.78% |
FAQ
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