Hibbett Sports Stock Forecast
Hibbett Sports stock upgraded from Hold/Accumulate to Buy Candidate after Monday trading session.
(Updated on Apr 22, 2024)
The Hibbett Sports stock price gained 1.90% on the last trading day (Monday, 22nd Apr 2024), rising from $71.14 to $72.49. During the last trading day the stock fluctuated 4.53% from a day low at $71.13 to a day high of $74.35. The price has fallen in 6 of the last 10 days and is down by -1.27% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 174 thousand more shares were traded than the day before. In total, 378 thousand shares were bought and sold for approximately $27.39 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.10% during the next 3 months and, with a 90% probability hold a price between $71.13 and $86.00 at the end of this 3-month period.
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HIBB Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Hibbett Sports 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 $73.12. On a fall, the stock will find some support from the short-term average at $70.88. 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. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -5.62%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Hibbett Sports stock
Hibbett Sports finds support from accumulated volume at $70.10 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 $3.22 between high and low, or 4.53%. For the last week, the stock has had daily average volatility of 3.39%.
Our recommended stop-loss: $69.26 (-4.45%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (HIBB) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Hibbett Sports to open at $72.66, and during the day (based on 14 day Average True Range), to move between $69.87 and $75.11, which gives a possible trading interval of +/-$2.62 (+/-3.61%) up or down from last closing price. If Hibbett Sports takes out the full calculated possible swing range there will be an estimated 7.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $73.03 (0.74%) than the support at $70.10 (3.30%), 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 Hibbett Sports stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Hibbett Sports stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.311 Buy Candidate Upgraded
Predicted Opening Price for Hibbett Sports of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $72.66 ( 0.230%) | $72.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HIBB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 75.88 | 4.67 % | |
| R2 | 74.65 | 2.98 % | ||
| R1 | 73.89 | 1.93 % | ||
| Current price: | 72.49 | |||
| Support | S1 | 71.43 | -1.47 % | |
| S2 | 70.67 | -2.52 % | ||
| S3 | 69.44 | -4.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 76.81 | 5.96 % | |
| R2 | 73.51 | 1.41 % | ||
| R1 | 73.03 | 0.745 % | ||
| Current price | 72.49 | |||
| Support | S1 | 70.10 | -3.30% | |
| S2 | 68.51 | -5.49% | ||
| S3 | 68.02 | -6.17% |
HIBB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 06, 2024 | Mar 20, 2024 | Apr 02, 2024 | $0.250 | 0.345% |
| 2 | Nov 20, 2023 | Dec 06, 2023 | Dec 19, 2023 | $0.250 | 0.350% |
| 3 | Aug 22, 2023 | Sep 06, 2023 | Sep 19, 2023 | $0.250 | 0.539% |
| 4 | May 23, 2023 | Jun 07, 2023 | Jun 20, 2023 | $0.250 | 0.671% |
| 5 | Mar 03, 2023 | Mar 15, 2023 | Mar 28, 2023 | $0.250 | 0.423% |
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