Highland Funds I - Highland Income Fund Stock Forecast
Highland Funds I - Highland Income Fund stock upgraded to Hold/Accumulate.
(Updated on May 03, 2024)
The Highland Funds I - Highland Income Fund stock price gained 3.12% on the last trading day (Friday, 3rd May 2024), rising from $6.41 to $6.61. During the last trading day the stock fluctuated 3.10% from a day low at $6.46 to a day high of $6.66. The price has risen in 6 of the last 10 days and is up by 3.77% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 thousand more shares were traded than the day before. In total, 272 thousand shares were bought and sold for approximately $1.80 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Highland Funds I - Highland Income Fund stock with a 90% probability to be traded between $6.20 and $7.11 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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HFRO Signals & Forecast
The Highland Funds I - Highland Income Fund 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 $6.46 and $6.56. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.77%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Highland Funds I - Highland Income Fund stock
Highland Funds I - Highland Income Fund finds support from accumulated volume at $6.39 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 $0.200 (3.10%) between high and low. For the last week, the stock has had daily average volatility of 2.38%.
Our recommended stop-loss: $6.27 (-5.21%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (HFRO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Highland Funds I - Highland Income Fund to open at $6.58, and during the day (based on 14 day Average True Range), to move between $6.44 and $6.78, which gives a possible trading interval of +/-$0.166 (+/-2.51%) up or down from last closing price. If Highland Funds I - Highland Income Fund takes out the full calculated possible swing range there will be an estimated 5.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.69 (1.21%) than the support at $6.39 (3.33%), 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 Highland Funds I - Highland Income Fund stock A Buy?
Highland Funds I - Highland Income Fund 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: 0.477 Hold/Accumulate Upgraded
Predicted Opening Price for Highland Funds I - Highland Income Fund of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$6.58 ( 0.504%) | $6.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HFRO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.78 | 2.52 % | |
R2 | 6.70 | 1.37 % | ||
R1 | 6.65 | 0.652 % | ||
Current price: | 6.61 | |||
Support | S1 | 6.50 | -1.66 % | |
S2 | 6.45 | -2.37 % | ||
S3 | 6.38 | -3.53 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.03 | 6.35 % | |
R2 | 6.82 | 3.18 % | ||
R1 | 6.69 | 1.21 % | ||
Current price | 6.61 | |||
Support | S1 | 6.39 | -3.33% | |
S2 | 6.35 | -3.93% | ||
S3 | 6.13 | -7.26% |
HFRO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 01, 2024 | Apr 22, 2024 | Apr 30, 2024 | $0.0385 | 0.602% |
2 | Mar 01, 2024 | Mar 20, 2024 | Mar 28, 2024 | $0.0385 | 0.548% |
3 | Feb 01, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.0385 | 0.609% |
4 | Jan 04, 2024 | Jan 23, 2024 | Jan 31, 2024 | $0.0385 | 0.545% |
5 | Dec 01, 2023 | Dec 21, 2023 | Dec 29, 2023 | $0.0770 | 1.00% |
FAQ
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