Haemonetics Corporation Stock Forecast
Green day on Friday for Haemonetics Corporation stock after gaining 1.17%
(Updated on May 03, 2024)
The Haemonetics Corporation stock price gained 1.17% on the last trading day (Friday, 3rd May 2024), rising from $93.33 to $94.42. It has now gained 10 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 1.82% from a day low at $93.09 to a day high of $94.79. The price has risen in 10 of the last 10 days and is up by 16.22% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 118 thousand more shares were traded than the day before. In total, 360 thousand shares were bought and sold for approximately $33.97 million.
The stock has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $92.56, a level that may pose a second chance to hit a runner. According to fan-theory $100.82 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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HAE Signals & Forecast
Mostly positive signals in the chart today. The Haemonetics Corporation 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 $91.71 and $84.85. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 16.22%. 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 is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Friday, November 03, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Friday, November 03, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Haemonetics Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $83.46 and $78.11. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Haemonetics Corporation finds support just below today's level at $83.46. If this is broken, then the next support from accumulated volume will be at $78.11 and $74.20.
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 $1.69 between high and low, or 1.82%. For the last week, the stock has had daily average volatility of 1.98%.
The Haemonetics Corporation stock is extremely overbought on RSI14 (76). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the Haemonetics Corporation has been rising for 10 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $91.13 (-3.48%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (HAE) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Haemonetics Corporation to open at $94.10, and during the day (based on 14 day Average True Range), to move between $92.28 and $96.56, which gives a possible trading interval of +/-$2.14 (+/-2.27%) up or down from last closing price. If Haemonetics Corporation takes out the full calculated possible swing range there will be an estimated 4.54% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $83.46, some $10.96 (11.61%) from the current price of $94.42, our system finds the risk reward attractive.
Earnings coming up
Haemonetics Corporation will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.88. We will update the financials statements for Haemonetics Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.59% in the first trading day after earnings release.
Is Haemonetics Corporation stock A Buy?
Haemonetics Corporation holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 6.281 Strong Buy Candidate Unchanged
Predicted Opening Price for Haemonetics Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $94.10 ( 0.341%) | $94.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HAE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 95.79 | 1.45 % | |
| R2 | 95.15 | 0.769 % | ||
| R1 | 94.75 | 0.345 % | ||
| Current price: | 94.42 | |||
| Support | S1 | 93.45 | -1.03 % | |
| S2 | 93.05 | -1.45 % | ||
| S3 | 92.40 | -2.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 94.42 | |||
| Support | S1 | 83.46 | -11.61% | |
| S2 | 78.11 | -17.27% | ||
| S3 | 74.20 | -21.41% |
FAQ
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