Hub Group Stock Forecast
Evaluation of Hub Group stock downgraded after the last trading session.
(Updated on May 07, 2024)
The Hub Group stock price fell by -0.186% on the last day (Tuesday, 7th May 2024) from $42.93 to $42.85. During the last trading day the stock fluctuated 1.56% from a day low at $42.80 to a day high of $43.47. The price has risen in 6 of the last 10 days and is up by 6.22% over the past 2 weeks. Volume has increased on the last day by 75 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 343 thousand shares were bought and sold for approximately $14.70 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $42.87 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -8.44% during the next 3 months and, with a 90% probability hold a price between $34.70 and $39.25 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.
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HUBG Signals & Forecast
The Hub Group 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 $41.76 and $41.28. 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). 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 Monday, May 06, 2024, and so far it has fallen -0.186%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Hub Group stock
Hub Group finds support from accumulated volume at $42.53 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 $0.668 between high and low, or 1.56%. For the last week, the stock has had daily average volatility of 2.07%.
The Hub Group stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $41.79 (-2.47%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (HUBG) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Hub Group to open at $43.04, and during the day (based on 14 day Average True Range), to move between $41.81 and $43.89, which gives a possible trading interval of +/-$1.04 (+/-2.43%) up or down from last closing price. If Hub Group takes out the full calculated possible swing range there will be an estimated 4.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $42.97 (0.28%) than the support at $42.53 (0.75%), 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 Hub Group stock A Buy?
Hub Group 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: 0.097 Hold/Accumulate Downgraded
Predicted Opening Price for Hub Group of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $43.04 ( 0.441%) | $42.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HUBG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.71 | 2.00 % | |
| R2 | 43.45 | 1.40 % | ||
| R1 | 43.29 | 1.04 % | ||
| Current price: | 42.85 | |||
| Support | S1 | 42.78 | -0.154 % | |
| S2 | 42.63 | -0.521 % | ||
| S3 | 42.37 | -1.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.81 | 4.57 % | |
| R2 | 44.51 | 3.87 % | ||
| R1 | 42.97 | 0.280 % | ||
| Current price | 42.85 | |||
| Support | S1 | 42.53 | -0.747% | |
| S2 | 42.28 | -1.33% | ||
| S3 | 41.24 | -3.76% |
HUBG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Mar 07, 2024 | Mar 27, 2024 | $0.130 | 0.303% |
FAQ
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