HealthEquity Stock Forecast
Weaker technical forecast for HealthEquity as stock downgraded to Sell Candidate.
(Updated on May 03, 2024)
The HealthEquity stock price fell by -1.50% on the last day (Friday, 3rd May 2024) from $79.75 to $78.55. During the last trading day the stock fluctuated 1.90% from a day low at $77.88 to a day high of $79.36. The price has fallen in 5 of the last 10 days and is down by -2.89% for this period. Volume has increased on the last day by 180 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, 613 thousand shares were bought and sold for approximately $48.17 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $78.30 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect HealthEquity stock with a 90% probability to be traded between $77.62 and $82.42 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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HQY Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has fallen 0%. 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. The HealthEquity 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 $79.51 and $80.31. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 HealthEquity stock
HealthEquity finds support from accumulated volume at $78.07 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 $1.48 between high and low, or 1.90%. For the last week the stock has had daily average volatility of 1.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HQY) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect HealthEquity to open at $78.60, and during the day (based on 14 day Average True Range), to move between $76.78 and $80.32, which gives a possible trading interval of +/-$1.77 (+/-2.25%) up or down from last closing price. If HealthEquity 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 support from accumulated volume at $78.07 (0.61%) than the resistance at $79.75 (1.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is HealthEquity stock A Buy?
HealthEquity holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.164 Sell Candidate Downgraded
Predicted Opening Price for HealthEquity of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $78.60 ( 0.0594%) | $78.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HQY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 80.08 | 1.94 % | |
| R2 | 79.51 | 1.22 % | ||
| R1 | 79.16 | 0.779 % | ||
| Current price: | 78.55 | |||
| Support | S1 | 78.03 | -0.660 % | |
| S2 | 77.68 | -1.10 % | ||
| S3 | 77.12 | -1.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 81.63 | 3.92 % | |
| R2 | 81.36 | 3.58 % | ||
| R1 | 79.75 | 1.53 % | ||
| Current price | 78.55 | |||
| Support | S1 | 78.07 | -0.611% | |
| S2 | 77.39 | -1.48% | ||
| S3 | 76.94 | -2.05% |
FAQ
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