The Honest Company, Inc. Stock Forecast
Green day on Monday for The Honest Company, Inc. stock after gaining 2.11%
(Updated on May 06, 2024)
The The Honest Company, Inc. stock price gained 2.11% on the last trading day (Monday, 6th May 2024), rising from $2.85 to $2.91. During the last trading day the stock fluctuated 4.51% from a day low at $2.88 to a day high of $3.01. The price has fallen in 6 of the last 10 days and is down by -3.64% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 20 thousand more shares were traded than the day before. In total, 941 thousand shares were bought and sold for approximately $2.74 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.84 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -7.62% during the next 3 months and, with a 90% probability hold a price between $2.63 and $4.10 at the end of this 3-month period.
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HNST Signals & Forecast
There are mixed signals in the stock today. The The Honest Company, 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 $3.00 and $3.50. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has risen 2.11%. 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.
Support, Risk & Stop-loss for The Honest Company, Inc. stock
The Honest Company, Inc. finds support from accumulated volume at $2.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.130 between high and low, or 4.51%. For the last week, the stock has had daily average volatility of 5.17%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HNST) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect The Honest Company, Inc. to open at $2.93, and during the day (based on 14 day Average True Range), to move between $2.71 and $3.11, which gives a possible trading interval of +/-$0.201 (+/-6.90%) up or down from last closing price. If The Honest Company, Inc. takes out the full calculated possible swing range there will be an estimated 13.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.85 (2.06%) than the resistance at $3.11 (6.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
The Honest Company, Inc. will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0800. We will update the financials statements for The Honest Company, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.58% in the first trading day after earnings release.
Is The Honest Company, Inc. stock A Buy?
The Honest Company, Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.245 Sell Candidate Unchanged
Predicted Opening Price for The Honest Company, Inc. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $2.93 ( 0.80%) | $2.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HNST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.06 | 5.27 % | |
| R2 | 3.01 | 3.56 % | ||
| R1 | 2.98 | 2.51 % | ||
| Current price: | 2.91 | |||
| Support | S1 | 2.88 | -0.90 % | |
| S2 | 2.85 | -1.96 % | ||
| S3 | 2.80 | -3.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.45 | 18.56 % | |
| R2 | 3.15 | 8.25 % | ||
| R1 | 3.11 | 6.87 % | ||
| Current price | 2.91 | |||
| Support | S1 | 2.85 | -2.06% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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