Hallmark Financial Services Stock Forecast
Hallmark Financial Services stock price down 2.27% on Tuesday
(Updated on Mar 28, 2023)
The Hallmark Financial Services stock price fell by -2.27% on the last day (Tuesday, 28th Mar 2023) from $8.81 to $8.61. During the last trading day the stock fluctuated 5.19% from a day low at $8.47 to a day high of $8.91. The price has fallen in 6 of the last 10 days and is down by -12.14% for this period. 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 -17 thousand shares and in total, 6 thousand shares were bought and sold for approximately $54.17 thousand.
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The stock lies in the middle of a very wide and strong 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 74.49% during the next 3 months and, with a 90% probability hold a price between $9.91 and $21.17 at the end of this 3-month period.
HALL Signals & Forecast
There are mixed signals in the stock today. The Hallmark Financial Services 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 $9.36. On a fall, the stock will find some support from the short-term average at $8.56. 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. A sell signal was issued from a pivot top point on Thursday, March 09, 2023, and so far it has fallen -21.80%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Hallmark Financial Services stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.86 and $6.84. 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, Hallmark Financial Services finds support just below today's level at $6.86. If this is broken, then the next support from accumulated volume will be at $6.84 and $6.60.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.440 between high and low, or 5.19%. For the last week the stock has had daily average volatility of 8.14%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HALL) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect Hallmark Financial Services to open at $8.66, and during the day (based on 14 day Average True Range), to move between $7.86 and $9.36, which gives a possible trading interval of +/-$0.746 (+/-8.67%) up or down from last closing price. If Hallmark Financial Services takes out the full calculated possible swing range there will be an estimated 17.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.80 (13.82%) than the support at $6.86 (20.33%), 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 Hallmark Financial Services stock A Buy?
Hallmark Financial Services holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.285 Open Broker Account
Sell Candidate UnchangedPredicted Opening Price for Hallmark Financial Services of Wednesday, March 29, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price March 29, 2023 | Current price |
|---|---|
| $8.66 | $8.61 (Undervalued) |
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Trading levels for HALL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.10 | 5.73 % | |
| R2 | 8.94 | 3.78 % | ||
| R1 | 8.83 | 2.57 % | ||
| Current price: | 8.61 | |||
| Support | S1 | 8.50 | -1.33 % | |
| S2 | 8.39 | -2.54 % | ||
| S3 | 8.22 | -4.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.64 | 23.60 % | |
| R2 | 10.07 | 16.96 % | ||
| R1 | 9.80 | 13.82 % | ||
| Current price | 8.61 | |||
| Support | S1 | 6.86 | -20.33% | |
| S2 | 6.84 | -20.56% | ||
| S3 | 6.60 | -23.34% |
FAQ
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About Hallmark Financial Services
Hallmark Financial Services, Inc. underwrites, markets, distributes, and services property/casualty insurance products to businesses and individuals in the United States. The company operates through Specialty Commercial, Standard Commercial, and Personal segments. The Specialty Commercial segment offers primary and excess commercial vehicle insurance products and services; primary and excess liability, excess public entity liability, and E&S pac... HALL Profile
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