Hologic Stock Forecast
Hologic stock downgraded to Hold/Accumulate
(Updated on Apr 24, 2024)
The Hologic stock price fell by -0.622% on the last day (Wednesday, 24th Apr 2024) from $77.19 to $76.71. During the last trading day the stock fluctuated 1.15% from a day low at $76.50 to a day high of $77.38. The price has risen in 6 of the last 10 days but is still down by -1.16% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -658 thousand shares and in total, 883 thousand shares were bought and sold for approximately $67.73 million.
The stock lies in the middle of a 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 4.84% during the next 3 months and, with a 90% probability hold a price between $78.86 and $82.89 at the end of this 3-month period.
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HOLX Signals & Forecast
The Hologic 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 $75.80 and $76.44. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 2.39%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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.
Support, Risk & Stop-loss for Hologic stock
Hologic finds support from accumulated volume at $75.91 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.88 between high and low, or 1.15%. For the last week the stock has had daily average volatility of 1.51%.
Our recommended stop-loss: $72.61 (-5.34%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (HOLX) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Hologic to open at $76.86, and during the day (based on 14 day Average True Range), to move between $75.48 and $77.94, which gives a possible trading interval of +/-$1.23 (+/-1.61%) up or down from last closing price. If Hologic takes out the full calculated possible swing range there will be an estimated 3.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $77.28 (0.74%) than the support at $75.91 (1.04%), 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.
Earnings coming up
Hologic will release earnings AMC on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.97. We will update the financials statements for Hologic, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.28% in the first trading day after earnings release.
Is Hologic stock A Buy?
Hologic 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: 0.775 Hold/Accumulate Downgraded
Predicted Opening Price for Hologic of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $76.86 ( 0.200%) | $76.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HOLX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 77.74 | 1.35 % | |
| R2 | 77.41 | 0.91 % | ||
| R1 | 77.20 | 0.638 % | ||
| Current price: | 76.71 | |||
| Support | S1 | 76.53 | -0.238 % | |
| S2 | 76.32 | -0.509 % | ||
| S3 | 75.98 | -0.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 77.78 | 1.39 % | |
| R2 | 77.61 | 1.17 % | ||
| R1 | 77.28 | 0.743 % | ||
| Current price | 76.71 | |||
| Support | S1 | 75.91 | -1.04% | |
| S2 | 73.80 | -3.79% | ||
| S3 | 72.44 | -5.57% |
FAQ
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