Hovnanian Enterprises Inc Stock Forecast
About Chart
Golden Star
The Golden Star is a refined bullish signal based on the Golden Cross, developed by Jim Stromberg, incorporating additional time frame-specific moving averages and precise price line crossings. This signal is effective for liquid stocks, highlighting short-term upward momentum.
Death Star
The Death Star, developed by Jim Stromberg, is the bearish counterpart to the Golden Star, serving as a sell signal. It is triggered by specific moving average crossings on the price line, indicating a likely prolonged decline in the stock.
Golden Cross
The Golden Cross is a bullish signal where the short-term moving average crosses above the long-term moving average, indicating potential upward momentum.
Death Cross
The Death Cross is a bearish signal where the short-term moving average crosses below the long-term moving average, indicating potential downward momentum.
Pivot Bottom
A Pivot Bottom is a significant low point identified by algorithms developed by StockInvest.us. While it may indicate a short-term directional change, it does not necessarily imply a complete trend reversal. Pivot Bottoms are marked as green circles on the price line.
Pivot Top
A Pivot Top represents a significant high point identified by algorithms developed by StockInvest.us. Similar to Pivot Bottoms, it may suggest a short-term directional change within the main trend, rather than a full trend reversal. Pivot Tops are marked as red circles on the price line.
RSI Oversold
RSI oversold indicates that a stock has declined significantly and may be undervalued, potentially presenting a buying opportunity. This condition is marked by a green line on the chart but should be confirmed with other indicators before taking action.
RSI Overbought
RSI overbought suggests that a stock has risen rapidly and may be due for a pullback. It is marked by a red line on the chart, signaling increased risk. This doesn’t necessarily mean it’s time to sell, but it’s important to monitor closely.
Accumulated Volume
The bars indicate how much stock has been traded on each price during the chart period.
Buy Signal (MA)
Buy Signal from Moving Average: Indicates potential upward movement.
Sell Signal (MA)
Sell Signal from Moving Average: Indicates potential downward movement.
AI Analysis of HOVNP
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Red day on Thursday for Hovnanian Enterprises Inc
(Updated on Oct 03, 2024)
Buy candidate since Oct 02, 2024
Loss -0.06%
The Hovnanian Enterprises Inc stock price fell by -0.0560% on the last day (Thursday, 3rd Oct 2024) from $17.86 to $17.85. During the last trading day the stock fluctuated 0.564% from a day low at $17.81 to a day high of $17.91. The price has fallen in 6 of the last 10 days and is down by -0.83% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -26 thousand shares and in total, 6 thousand shares were bought and sold for approximately $114.19 thousand.
The stock is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $17.80 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Hovnanian Enterprises Inc stock with a 90% probability to be traded between $17.85 and $18.32 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 stock seldom manage to go directly from the bottom of a trend up to the top. Stock turning up in the middle of a horizontal trend are therefore considered to be potential runners.
HOVNP Signals & Forecast
The Hovnanian Enterprises 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 $17.94 and $17.98. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Monday, August 05, 2024, and so far it has risen 0.450%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Hovnanian Enterprises Inc stock
Hovnanian Enterprises Inc finds support from accumulated volume at $17.84 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.101 between high and low, or 0.564%. For the last week the stock has had daily average volatility of 1.07%
Our recommended stop-loss: $16.78 (-6.02%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 42 days ago.)
Trading Expectations (HOVNP) For The Upcoming Trading Day Of Friday 4th
For the upcoming trading day on Friday, 4th we expect Hovnanian Enterprises Inc to open at $17.86, and during the day (based on 14 day Average True Range), to move between $17.69 and $18.01, which gives a possible trading interval of +/-$0.162 (+/-0.91%) up or down from last closing price. If Hovnanian Enterprises Inc takes out the full calculated possible swing range there will be an estimated 1.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $17.84 (0.06%) than the resistance at $17.95 (0.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hovnanian Enterprises Inc 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.
Current score:
2.185
Buy Candidate
Unchanged
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Predicted Fair Opening Price
Predicted fair opening price on October 4, 2024 - $17.86 ( 0.0364%). The predicted opening price is based on yesterday's movements between high, low, and closing price.Trading levels for HOVNP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.96 | 0.599% |
| R2 | 17.92 | 0.384% |
| R1 | 17.89 | 0.251% |
| Price | 17.85 | |
| S1 | 17.82 | -0.179% |
| S2 | 17.79 | -0.312% |
| S3 | 17.76 | -0.527% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.00 | 0.84% |
| R2 | 17.99 | 0.784% |
| R1 | 17.95 | 0.532% |
| Price | 17.85 | |
| S1 | 17.84 | -0.0560% |
| S2 | 17.81 | -0.224% |
| S3 | 17.77 | -0.448% |
HOVNP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 11, 2024 | Oct 01, 2024 | Oct 15, 2024 | $0.477 | 2.67% |
| 2 | Jun 11, 2024 | Jul 01, 2024 | Jul 15, 2024 | $0.477 | 2.65% |
| 3 | Mar 15, 2024 | Mar 28, 2024 | Apr 15, 2024 | $0.477 | 2.65% |
| 4 | Dec 13, 2023 | Dec 28, 2023 | Jan 15, 2024 | $0.477 | 2.58% |
| 5 | Sep 12, 2023 | Sep 28, 2023 | Oct 15, 2023 | $0.477 | 2.76% |
FAQ
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