H&E Equipment Services Stock Forecast

Red day on Friday for H&E Equipment Services
(Updated on May 03, 2024)

HEES Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 4.15%. 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 H&E Equipment Services stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $51.89 and $59.68. A break-up above any of these levels will issue buy signals. 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. The stock had a Golden Star Signal on Thursday, November 30, 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 H&E Equipment Services stock

H&E Equipment Services finds support from accumulated volume at $44.79 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $1.81 between high and low, or 3.92%. For the last week, the stock has had daily average volatility of 7.33%.

H&E Equipment Services is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (HEES) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect H&E Equipment Services to open at $46.93, and during the day (based on 14 day Average True Range), to move between $44.06 and $49.24, which gives a possible trading interval of +/-$2.59 (+/-5.55%) up or down from last closing price. If H&E Equipment Services takes out the full calculated possible swing range there will be an estimated 11.11% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $47.05 (0.86%) than the support at $44.79 (3.99%), 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 H&E Equipment Services stock A Buy?

The H&E Equipment Services stock holds several negative signals and despite the positive trend, we believe H&E Equipment Services will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.251 Sell Candidate Unchanged

Predicted Opening Price for H&E Equipment Services of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.