Hagerty, Inc. Stock Forecast
Evaluation of Hagerty, Inc. stock downgraded after the last trading session.
(Updated on Apr 25, 2024)
The Hagerty, Inc. stock price fell by -1.23% on the last day (Thursday, 25th Apr 2024) from $8.92 to $8.81. During the last trading day the stock fluctuated 2.73% from a day low at $8.80 to a day high of $9.04. The price has fallen in 6 of the last 10 days but is still up by 3.65% 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 -2 thousand shares and in total, 32 thousand shares were bought and sold for approximately $278.58 thousand.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.32% during the next 3 months and, with a 90% probability hold a price between $9.45 and $10.44 at the end of this 3-month period.
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HGTY Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 4.38%. 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 Hagerty, Inc. 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 $8.82 and $8.88. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Hagerty, Inc. stock
Hagerty, Inc. finds support from accumulated volume at $8.74 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.240 between high and low, or 2.73%. For the last week the stock has had daily average volatility of 3.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HGTY) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Hagerty, Inc. to open at $8.88, and during the day (based on 14 day Average True Range), to move between $8.54 and $9.08, which gives a possible trading interval of +/-$0.266 (+/-3.02%) up or down from last closing price. If Hagerty, Inc. takes out the full calculated possible swing range there will be an estimated 6.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.74 (0.79%) than the resistance at $8.93 (1.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hagerty, Inc. stock A Buy?
The Hagerty, Inc. stock holds several negative signals and despite the positive trend, we believe Hagerty, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.879 Sell Candidate Downgraded
Predicted Opening Price for Hagerty, Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $8.88 ( 0.83%) | $8.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HGTY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.12 | 3.56 % | |
| R2 | 9.03 | 2.52 % | ||
| R1 | 8.98 | 1.87 % | ||
| Current price: | 8.81 | |||
| Support | S1 | 8.79 | -0.208 % | |
| S2 | 8.74 | -0.85 % | ||
| S3 | 8.64 | -1.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.00 | 2.16 % | |
| R2 | 8.94 | 1.48 % | ||
| R1 | 8.93 | 1.36 % | ||
| Current price | 8.81 | |||
| Support | S1 | 8.74 | -0.795% | |
| S2 | 8.69 | -1.36% | ||
| S3 | 8.04 | -8.74% |
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