HNI Corporation Stock Forecast
HNI Corporation stock price ended at $42.99 on Monday, after gaining 1.15%.
(Updated on Apr 29, 2024)
The HNI Corporation stock price gained 1.15% on the last trading day (Monday, 29th Apr 2024), rising from $42.50 to $42.99. During the last trading day the stock fluctuated 5.70% from a day low at $41.08 to a day high of $43.42. The price has risen in 6 of the last 10 days and is up by 3.47% 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, 236 thousand more shares were traded than the day before. In total, 419 thousand shares were bought and sold for approximately $18.00 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 HNI Corporation stock with a 90% probability to be traded between $42.01 and $46.32 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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HNI Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 4.65%. 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). 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. The HNI Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $43.25. On a fall, the stock will find some support from the short-term average at $42.69. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for HNI Corporation stock
HNI Corporation finds support from accumulated volume at $42.49 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 $2.34 (5.70%) between high and low. For the last week, the stock has had daily average volatility of 2.31%.
Our recommended stop-loss: $40.86 (-4.96%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (HNI) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect HNI Corporation to open at $42.50, and during the day (based on 14 day Average True Range), to move between $42.08 and $43.90, which gives a possible trading interval of +/-$0.91 (+/-2.13%) up or down from last closing price. If HNI Corporation takes out the full calculated possible swing range there will be an estimated 4.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $43.10 (0.26%) than the support at $42.49 (1.16%), 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 HNI Corporation stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for HNI Corporation stock to perform well in the short-term period.
Current score: 2.312 Buy Candidate Unchanged
Predicted Opening Price for HNI Corporation of Tuesday, April 30, 2024
Fair opening price April 30, 2024 | Current price |
---|---|
$42.50 ( 1.15%) | $42.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HNI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 44.84 | 4.30 % | |
R2 | 43.94 | 2.22 % | ||
R1 | 43.39 | 0.93 % | ||
Current price: | 42.99 | |||
Support | S1 | 41.60 | -3.23 % | |
S2 | 41.05 | -4.51 % | ||
S3 | 40.16 | -6.59 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 43.72 | 1.70 % | |
R2 | 43.16 | 0.395 % | ||
R1 | 43.10 | 0.256 % | ||
Current price | 42.99 | |||
Support | S1 | 42.49 | -1.16% | |
S2 | 42.03 | -2.23% | ||
S3 | 40.72 | -5.28% |
HNI Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 13, 2024 | Feb 23, 2024 | Mar 06, 2024 | $0.320 | 0.749% |
2 | Nov 08, 2023 | Nov 17, 2023 | Dec 01, 2023 | $0.320 | 0.81% |
3 | Aug 15, 2023 | Aug 24, 2023 | Sep 08, 2023 | $0.320 | 1.02% |
4 | May 15, 2023 | Jun 08, 2023 | Jun 23, 2023 | $0.320 | 1.16% |
5 | Feb 14, 2023 | Feb 24, 2023 | Mar 08, 2023 | $0.320 | 1.19% |
FAQ
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