HomeStreet Stock Forecast

HMST Signals & Forecast

The HomeStreet 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 $7.34 and $6.02. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, October 27, 2023, and so far it has risen 70.26%. Further rise is indicated until a new top pivot has been found. HomeStreet 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. 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).

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Support, Risk & Stop-loss for HomeStreet stock

On the downside, the stock finds support just below today's level from accumulated volume at $6.69 and $6.48. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, HomeStreet finds support just below today's level at $6.69. If this is broken, then the next support from accumulated volume will be at $6.48 and $6.35.

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 $0.400 between high and low, or 5.41%. For the last week, the stock has had daily average volatility of 5.00%.

Our recommended stop-loss: $7.39 (-3.70%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 29 days ago.)

Trading Expectations (HMST) For The Upcoming Trading Day Of Monday 11th

For the upcoming trading day on Monday, 11th we expect HomeStreet to open at $7.62, and during the day (based on 14 day Average True Range), to move between $7.22 and $8.12, which gives a possible trading interval of +/-$0.455 (+/-5.93%) up or down from last closing price. If HomeStreet takes out the full calculated possible swing range there will be an estimated 11.86% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $8.17 (6.52%) than the support at $6.69 (12.78%), 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 HomeStreet stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 4.072 Open Broker Account

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