HCI Group Inc Stock Forecast
Stronger technical forecast for HCI Group Inc stock price after Tuesday trading.
(Updated on Apr 23, 2024)
The HCI Group Inc stock price gained 1.35% on the last trading day (Tuesday, 23rd Apr 2024), rising from $113.26 to $114.79. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.52% from a day low at $112.52 to a day high of $116.48. The price has risen in 6 of the last 10 days but is still down by -0.47% for this period. Volume fell on the last day by -7 thousand shares and in total, 119 thousand shares were bought and sold for approximately $13.62 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $111.80 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 29.67% during the next 3 months and, with a 90% probability hold a price between $144.97 and $165.89 at the end of this 3-month period.
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HCI Signals & Forecast
A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -3.51%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. The HCI Group Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $111.77 and $112.23. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for HCI Group Inc stock
HCI Group Inc finds support from accumulated volume at $112.95 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $3.96 (3.52%) between high and low. For the last week, the stock has had daily average volatility of 2.76%.
Our recommended stop-loss: $110.65 (-3.61%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (HCI) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect HCI Group Inc to open at $114.60, and during the day (based on 14 day Average True Range), to move between $111.46 and $118.12, which gives a possible trading interval of +/-$3.33 (+/-2.90%) up or down from last closing price. If HCI Group Inc takes out the full calculated possible swing range there will be an estimated 5.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $112.95 (1.60%) than the resistance at $117.28 (2.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is HCI Group Inc stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.224 Buy Candidate Upgraded
Predicted Opening Price for HCI Group Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $114.60 ( 0.169%) | $114.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HCI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 118.56 | 3.28 % | |
| R2 | 117.04 | 1.96 % | ||
| R1 | 116.11 | 1.15 % | ||
| Current price: | 114.79 | |||
| Support | S1 | 113.08 | -1.49 % | |
| S2 | 112.15 | -2.30 % | ||
| S3 | 110.63 | -3.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 118.96 | 3.63 % | |
| R2 | 118.72 | 3.42 % | ||
| R1 | 117.28 | 2.17 % | ||
| Current price | 114.79 | |||
| Support | S1 | 112.95 | -1.60% | |
| S2 | 110.36 | -3.86% | ||
| S3 | 93.67 | -18.40% |
HCI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 25, 2024 | Feb 15, 2024 | Mar 15, 2024 | $0.400 | 0.359% |
| 2 | Oct 17, 2023 | Nov 16, 2023 | Dec 15, 2023 | $0.400 | 0.467% |
| 3 | Jul 13, 2023 | Aug 17, 2023 | Sep 15, 2023 | $0.400 | 0.763% |
| 4 | Apr 19, 2023 | May 18, 2023 | Jun 16, 2023 | $0.400 | 0.693% |
| 5 | Jan 19, 2023 | Feb 16, 2023 | Mar 17, 2023 | $0.400 | 0.752% |
FAQ
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