Hydro One Limited Stock Forecast
Hydro One Limited stock price down 0.427% on Tuesday
(Updated on Jul 02, 2024)
The Hydro One Limited stock price fell by -0.427% on the last day (Tuesday, 2nd Jul 2024) from $39.85 to $39.68. During the last trading day the stock fluctuated 1.27% from a day low at $39.40 to a day high of $39.90. The price has been going up and down for this period, and there has been a 1.41% gain for the last 2 weeks. 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 -1 million shares and in total, 922 thousand shares were bought and sold for approximately $36.59 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 3.97% during the next 3 months and, with a 90% probability hold a price between $40.18 and $42.91 at the end of this 3-month period.
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H.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 3.15%. 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 Hydro One Limited 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 $39.81. On a fall, the stock will find some support from the short-term average at $39.40. 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. 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 Hydro One Limited stock
Hydro One Limited finds support from accumulated volume at $39.42 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 $0.500 between high and low, or 1.27%. For the last week the stock has had daily average volatility of 1.28%.
Our recommended stop-loss: $37.32 (-5.95%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (H.TO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Hydro One Limited to open at $39.66, and during the day (based on 14 day Average True Range), to move between $39.14 and $40.22, which gives a possible trading interval of +/-$0.543 (+/-1.37%) up or down from last closing price. If Hydro One Limited takes out the full calculated possible swing range there will be an estimated 2.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $39.85 (0.43%) than the support at $39.42 (0.66%), 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 Hydro One Limited 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 Hydro One Limited stock to perform well in the short-term.
Current score: 1.553 Buy Candidate Unchanged
Predicted Opening Price for Hydro One Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $39.66 ( 0.0504%) | $39.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for H.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 40.16 | 1.21% |
| R2 | 39.97 | 0.728% |
| R1 | 39.85 | 0.431% |
| Price | 39.68 | |
| S1 | 39.47 | -0.532% |
| S2 | 39.35 | -0.83% |
| S3 | 39.16 | -1.31% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 40.83 | 2.90% |
| R2 | 39.90 | 0.554% |
| R1 | 39.85 | 0.428% |
| Price | 39.68 | |
| S1 | 39.42 | -0.655% |
| S2 | 39.26 | -1.06% |
| S3 | 38.47 | -3.05% |
H Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 12, 2024 | Jun 12, 2024 | Jun 28, 2024 | $0.314 | 0.788% |
| 2 | Feb 13, 2024 | Mar 12, 2024 | Mar 28, 2024 | $0.296 | 0.750% |
| 3 | Nov 08, 2023 | Dec 12, 2023 | Dec 29, 2023 | $0.296 | 0.746% |
| 4 | Aug 08, 2023 | Sep 12, 2023 | Sep 29, 2023 | $0.296 | 0.86% |
| 5 | Jun 06, 2023 | Jun 06, 2023 | Jun 30, 2023 | $0.296 | 0.782% |
FAQ
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