High Liner Foods Incorporated Stock Forecast
High Liner Foods Incorporated stock downgraded from Strong Buy Candidate to Buy Candidate after Tuesday trading session.
(Updated on Apr 23, 2024)
The High Liner Foods Incorporated stock price fell by -0.91% on the last day (Tuesday, 23rd Apr 2024) from $13.16 to $13.04. During the last trading day the stock fluctuated 2.08% from a day low at $13.00 to a day high of $13.27. The price has fallen in 6 of the last 10 days and is down by -2.32% for this period. Volume has increased on the last day by 9 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 14 thousand shares were bought and sold for approximately $180.10 thousand.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $12.96 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.45% during the next 3 months and, with a 90% probability hold a price between $14.70 and $15.89 at the end of this 3-month period.
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HLF.TO Signals & Forecast
A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -3.76%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). High Liner Foods Incorporated gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". Some positive signals were issued as well, and these may have some influence on the near short-term development. The High Liner Foods Incorporated stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $13.08. On a fall, the stock will find some support from the long-term average at approximately $13.02. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal.
Support, Risk & Stop-loss for High Liner Foods Incorporated stock
High Liner Foods Incorporated finds support from accumulated volume at $13.02 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.270 between high and low, or 2.08%. For the last week the stock has had daily average volatility of 1.38%.
Our recommended stop-loss: $12.62 (-3.23%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (HLF.TO) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect High Liner Foods Incorporated to open at $13.10, and during the day (based on 14 day Average True Range), to move between $12.78 and $13.30, which gives a possible trading interval of +/-$0.262 (+/-2.01%) up or down from last closing price. If High Liner Foods Incorporated takes out the full calculated possible swing range there will be an estimated 4.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.02 (0.15%) than the resistance at $13.10 (0.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is High Liner Foods Incorporated stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.555 Buy Candidate Downgraded
Predicted Opening Price for High Liner Foods Incorporated of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$13.10 ( 0.486%) | $13.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HLF.TO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 13.37 | 2.56 % | |
R2 | 13.27 | 1.77 % | ||
R1 | 13.21 | 1.28 % | ||
Current price: | 13.04 | |||
Support | S1 | 13.00 | -0.305 % | |
S2 | 12.94 | -0.794 % | ||
S3 | 12.83 | -1.58 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 13.21 | 1.30 % | |
R2 | 13.16 | 0.92 % | ||
R1 | 13.10 | 0.460 % | ||
Current price | 13.04 | |||
Support | S1 | 13.02 | -0.153% | |
S2 | 12.90 | -1.07% | ||
S3 | 12.55 | -3.76% |
HLF Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 21, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.150 | 1.17% |
2 | Nov 08, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.150 | 1.36% |
3 | Aug 09, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.130 | 1.15% |
4 | May 31, 2023 | May 31, 2023 | Jun 15, 2023 | $0.130 | 0.92% |
5 | Feb 23, 2023 | Mar 01, 2023 | Mar 15, 2023 | $0.130 | 0.89% |
FAQ
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