Hagerty, Inc. Stock Forecast
Hagerty, Inc. stock upgraded to Strong Buy Candidate.
(Updated on May 07, 2024)
The Hagerty, Inc. stock price gained 0.553% on the last trading day (Tuesday, 7th May 2024), rising from $9.04 to $9.09. During the last trading day the stock fluctuated 3.43% from a day low at $9.07 to a day high of $9.38. The price has fallen in 6 of the last 10 days but is still up by 0.33% 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, 3 thousand more shares were traded than the day before. In total, 47 thousand shares were bought and sold for approximately $431.00 thousand.
The stock lies in the middle of a weak 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 6.08% during the next 3 months and, with a 90% probability hold a price between $9.11 and $10.00 at the end of this 3-month period.
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HGTY Signals & Forecast
Mostly positive signals in the chart today. The Hagerty, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $8.94 and $8.90. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 7.70%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Hagerty, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. The stock had a Golden Star Signal on Wednesday, May 01, 2024 in the short-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.
Golden Star
The stock had a Golden Star Signal on Wednesday, May 01, 2024 in the short-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 Hagerty, Inc. stock
Hagerty, Inc. finds support from accumulated volume at $9.00 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 $0.311 (3.43%) between high and low. For the last week, the stock has had daily average volatility of 2.50%.
Our recommended stop-loss: $8.62 (-5.22%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (HGTY) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Hagerty, Inc. to open at $9.18, and during the day (based on 14 day Average True Range), to move between $8.84 and $9.34, which gives a possible trading interval of +/-$0.253 (+/-2.78%) up or down from last closing price. If Hagerty, Inc. takes out the full calculated possible swing range there will be an estimated 5.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.13 (0.44%) than the support at $9.00 (0.99%), 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.
Earnings coming up
Hagerty, Inc. will release earnings BMO on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0300. We will update the financials statements for Hagerty, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.68% in the first trading day after earnings release.
Is Hagerty, Inc. stock A Buy?
Hagerty, Inc. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.479 Strong Buy Candidate Upgraded
Predicted Opening Price for Hagerty, Inc. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $9.18 ( 0.99%) | $9.09 |
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 | 9.49 | 4.41 % | |
| R2 | 9.37 | 3.11 % | ||
| R1 | 9.30 | 2.30 % | ||
| Current price: | 9.09 | |||
| Support | S1 | 9.06 | -0.313 % | |
| S2 | 8.99 | -1.12 % | ||
| S3 | 8.87 | -2.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.18 | 0.99 % | |
| R2 | 9.15 | 0.660 % | ||
| R1 | 9.13 | 0.440 % | ||
| Current price | 9.09 | |||
| Support | S1 | 9.00 | -0.99% | |
| S2 | 8.94 | -1.65% | ||
| S3 | 8.93 | -1.76% |
FAQ
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