Hawaiian Electric Industries Inc Stock Forecast
Hawaiian Electric Industries Inc stock upgraded to Hold/Accumulate.
(Updated on Apr 24, 2024)
The Hawaiian Electric Industries Inc stock price fell by -0.639% on the last day (Wednesday, 24th Apr 2024) from $10.95 to $10.88. During the last trading day the stock fluctuated 2.24% from a day low at $10.73 to a day high of $10.97. The price has been going up and down for this period, and there has been a 0.93% 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 -49 thousand shares and in total, 1 million shares were bought and sold for approximately $15.69 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $10.89 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -24.08% during the next 3 months and, with a 90% probability hold a price between $6.97 and $8.27 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
HE Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 14.29%. 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 Hawaiian Electric Industries 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 $10.99. On a fall, the stock will find some support from the short-term average at $10.44. 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 Hawaiian Electric Industries Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $10.21 and $9.77. 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, Hawaiian Electric Industries Inc finds support just below today's level at $10.21. If this is broken, then the next support from accumulated volume will be at $9.77 and $9.52.
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 $0.240 between high and low, or 2.24%. For the last week, the stock has had daily average volatility of 4.15%.
Our recommended stop-loss: $10.44 (-4.04%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (HE) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Hawaiian Electric Industries Inc to open at $10.86, and during the day (based on 14 day Average True Range), to move between $10.42 and $11.34, which gives a possible trading interval of +/-$0.458 (+/-4.21%) up or down from last closing price. If Hawaiian Electric Industries Inc takes out the full calculated possible swing range there will be an estimated 8.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.91 (0.28%) than the support at $10.21 (6.16%), 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 Hawaiian Electric Industries Inc stock A Buy?
Hawaiian Electric Industries 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: -0.566 Hold/Accumulate Upgraded
Predicted Opening Price for Hawaiian Electric Industries Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $10.86 ( 0.184%) | $10.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.10 | 2.02 % | |
| R2 | 11.01 | 1.18 % | ||
| R1 | 10.95 | 0.659 % | ||
| Current price: | 10.88 | |||
| Support | S1 | 10.77 | -1.03 % | |
| S2 | 10.71 | -1.55 % | ||
| S3 | 10.62 | -2.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.11 | 20.50 % | |
| R2 | 11.27 | 3.58 % | ||
| R1 | 10.91 | 0.276 % | ||
| Current price | 10.88 | |||
| Support | S1 | 10.21 | -6.16% | |
| S2 | 9.77 | -10.20% | ||
| S3 | 9.52 | -12.50% |
HE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 03, 2023 | Aug 17, 2023 | Sep 08, 2023 | $0.360 | 2.87% |
| 2 | May 04, 2023 | May 18, 2023 | Sep 08, 2023 | $0.360 | 2.87% |
| 3 | Feb 10, 2023 | Feb 22, 2023 | Mar 10, 2023 | $0.360 | 0.96% |
| 4 | Nov 03, 2022 | Nov 21, 2022 | Dec 09, 2022 | $0.350 | 0.85% |
| 5 | Aug 05, 2022 | Aug 17, 2022 | Sep 09, 2022 | $0.350 | 0.88% |
FAQ
Click here for our free guide on how to buy Hawaiian Electric Industries Inc Stock.
