Health Catalyst Inc. Stock Forecast
Health Catalyst Inc. stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)
The Health Catalyst Inc. stock price fell by -0.92% on the last day (Friday, 3rd May 2024) from $6.54 to $6.48. During the last trading day the stock fluctuated 6.92% from a day low at $6.36 to a day high of $6.80. The price has risen in 6 of the last 10 days and is up by 16.13% over the past 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 -449 thousand shares and in total, 342 thousand shares were bought and sold for approximately $2.21 million.
Given the current short-term trend, the stock is expected to fall -40.61% during the next 3 months and, with a 90% probability hold a price between $2.73 and $3.85 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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HCAT Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 17.18%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Health Catalyst Inc. 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 $6.64. On a fall, the stock will find some support from the short-term average at $6.22. 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. 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 Health Catalyst Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.03 and $5.67. 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, Health Catalyst Inc. finds support just below today's level at $6.03. If this is broken, then the next support from accumulated volume will be at $5.67 and $5.60.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.440 between high and low, or 6.92%. For the last week, the stock has had daily average volatility of 5.98%.
Our recommended stop-loss: $6.24 (-3.68%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (HCAT) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Health Catalyst Inc. to open at $6.55, and during the day (based on 14 day Average True Range), to move between $6.11 and $6.85, which gives a possible trading interval of +/-$0.368 (+/-5.68%) up or down from last closing price. If Health Catalyst Inc. takes out the full calculated possible swing range there will be an estimated 11.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.68 (3.09%) than the support at $6.03 (6.94%), 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.
Earnings coming up
Health Catalyst Inc. will release earnings AMC on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0300. We will update the financials statements for Health Catalyst Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.07% in the first trading day after earnings release.
Is Health Catalyst Inc. stock A Buy?
Health Catalyst Inc. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.385 Hold/Accumulate Upgraded
Predicted Opening Price for Health Catalyst Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $6.55 ( 1.03%) | $6.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HCAT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.99 | 7.82 % | |
| R2 | 6.82 | 5.23 % | ||
| R1 | 6.71 | 3.62 % | ||
| Current price: | 6.48 | |||
| Support | S1 | 6.38 | -1.57 % | |
| S2 | 6.27 | -3.17 % | ||
| S3 | 6.11 | -5.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.06 | 24.38 % | |
| R2 | 7.78 | 20.06 % | ||
| R1 | 6.68 | 3.09 % | ||
| Current price | 6.48 | |||
| Support | S1 | 6.03 | -6.94% | |
| S2 | 5.67 | -12.50% | ||
| S3 | 5.60 | -13.58% |
FAQ
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