H&E Equipment Services Stock Forecast

Red day on Monday for H&E Equipment Services stock after losing 1.78%
(Updated on Apr 22, 2024)

HEES Signals & Forecast

There are few to no technical positive signals at the moment. The H&E Equipment Services 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 $59.42 and $60.79. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -12.74%. 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. The stock had a Golden Star Signal on Thursday, November 30, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for H&E Equipment Services stock

On the downside, the stock finds support just below today's level from accumulated volume at $53.79 and $52.95. 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, H&E Equipment Services finds support just below today's level at $53.79. If this is broken, then the next support from accumulated volume will be at $52.95 and $52.72.

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 $1.46 between high and low, or 2.55%. For the last week, the stock has had daily average volatility of 2.85%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (HEES) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect H&E Equipment Services to open at $57.68, and during the day (based on 14 day Average True Range), to move between $55.46 and $59.04, which gives a possible trading interval of +/-$1.79 (+/-3.13%) up or down from last closing price. If H&E Equipment Services takes out the full calculated possible swing range there will be an estimated 6.26% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $57.95 (1.22%) than the support at $53.79 (6.04%), 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.

Is H&E Equipment Services stock A Buy?

The H&E Equipment Services stock holds several negative signals and despite the positive trend, we believe H&E Equipment Services will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.129 Sell Candidate Unchanged

Predicted Opening Price for H&E Equipment Services of Tuesday, April 23, 2024

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