HNI Corporation Stock Forecast
HNI Corporation stock upgraded to Buy Candidate.
(Updated on May 03, 2024)
The HNI Corporation stock price gained 1.94% on the last trading day (Friday, 3rd May 2024), rising from $43.35 to $44.19. During the last trading day the stock fluctuated 1.61% from a day low at $43.58 to a day high of $44.28. The price has risen in 6 of the last 10 days and is up by 4.86% over the past 2 weeks. Volume fell on the last day by -28 thousand shares and in total, 207 thousand shares were bought and sold for approximately $9.15 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect HNI Corporation stock with a 90% probability to be traded between $41.31 and $45.42 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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HNI Signals & Forecast
Mostly positive signals in the chart today. The HNI Corporation 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 $42.73 and $43.27. 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 7.57%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for HNI Corporation stock
HNI Corporation finds support from accumulated volume at $43.16 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 $0.700 (1.61%) between high and low. For the last week, the stock has had daily average volatility of 3.22%.
Our recommended stop-loss: $42.44 (-3.97%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (HNI) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect HNI Corporation to open at $44.02, and during the day (based on 14 day Average True Range), to move between $43.19 and $45.19, which gives a possible trading interval of +/-$1.00 (+/-2.25%) up or down from last closing price. If HNI Corporation takes out the full calculated possible swing range there will be an estimated 4.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $44.81 (1.40%) than the support at $43.16 (2.33%), 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 HNI Corporation stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for HNI Corporation stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.027 Buy Candidate Upgraded
Predicted Opening Price for HNI Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $44.02 ( 0.392%) | $44.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HNI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.72 | 1.19 % | |
| R2 | 44.45 | 0.587 % | ||
| R1 | 44.28 | 0.213 % | ||
| Current price: | 44.19 | |||
| Support | S1 | 43.75 | -1.00 % | |
| S2 | 43.58 | -1.37 % | ||
| S3 | 43.32 | -1.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.13 | 2.13 % | |
| R2 | 44.82 | 1.43 % | ||
| R1 | 44.81 | 1.40 % | ||
| Current price | 44.19 | |||
| Support | S1 | 43.16 | -2.33% | |
| S2 | 42.99 | -2.72% | ||
| S3 | 42.49 | -3.85% |
HNI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 13, 2024 | Feb 23, 2024 | Mar 06, 2024 | $0.320 | 0.749% |
| 2 | Nov 08, 2023 | Nov 17, 2023 | Dec 01, 2023 | $0.320 | 0.81% |
| 3 | Aug 15, 2023 | Aug 24, 2023 | Sep 08, 2023 | $0.320 | 1.02% |
| 4 | May 15, 2023 | Jun 08, 2023 | Jun 23, 2023 | $0.320 | 1.16% |
| 5 | Feb 14, 2023 | Feb 24, 2023 | Mar 08, 2023 | $0.320 | 1.19% |
FAQ
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