Helmerich & Payne Inc Stock Forecast
Helmerich & Payne Inc stock downgraded to Buy Candidate
(Updated on Apr 24, 2024)
The Helmerich & Payne Inc stock price gained 0.260% on the last trading day (Wednesday, 24th Apr 2024), rising from $42.32 to $42.43. During the last trading day the stock fluctuated 2.68% from a day low at $41.47 to a day high of $42.58. The price has fallen in 6 of the last 10 days and is down by -1.33% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 537 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $78.53 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 14.93% during the next 3 months and, with a 90% probability hold a price between $47.24 and $51.85 at the end of this 3-month period.
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HP Signals & Forecast
The Helmerich & Payne Inc 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 $41.59 and $41.48. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -3.33%. 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).
Support, Risk & Stop-loss for Helmerich & Payne Inc stock
Helmerich & Payne Inc finds support from accumulated volume at $40.62 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 $1.11 (2.68%) between high and low. For the last week, the stock has had daily average volatility of 3.29%.
Our recommended stop-loss: $40.50 (-4.55%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (HP) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Helmerich & Payne Inc to open at $42.16, and during the day (based on 14 day Average True Range), to move between $41.23 and $43.63, which gives a possible trading interval of +/-$1.20 (+/-2.82%) up or down from last closing price. If Helmerich & Payne Inc takes out the full calculated possible swing range there will be an estimated 5.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $42.67 (0.57%) than the support at $40.62 (4.27%), 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 Helmerich & Payne Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Helmerich & Payne Inc stock to perform well in the short-term. 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: 3.580 Buy Candidate Downgraded
Predicted Opening Price for Helmerich & Payne Inc of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$42.16 ( 0.636%) | $42.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 43.27 | 1.98 % | |
R2 | 42.85 | 0.98 % | ||
R1 | 42.58 | 0.363 % | ||
Current price: | 42.43 | |||
Support | S1 | 41.74 | -1.64 % | |
S2 | 41.47 | -2.25 % | ||
S3 | 41.05 | -3.25 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 43.26 | 1.96 % | |
R2 | 43.00 | 1.34 % | ||
R1 | 42.67 | 0.566 % | ||
Current price | 42.43 | |||
Support | S1 | 40.62 | -4.27% | |
S2 | 40.26 | -5.11% | ||
S3 | 38.99 | -8.11% |
HP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 28, 2024 | May 16, 2024 | May 31, 2024 | $0.420 | 0.99% |
2 | Dec 06, 2023 | Feb 12, 2024 | Feb 27, 2024 | $0.420 | 1.09% |
3 | Oct 17, 2023 | Nov 17, 2023 | Dec 04, 2023 | $0.420 | 1.14% |
4 | Jun 07, 2023 | Aug 16, 2023 | Aug 31, 2023 | $0.235 | 0.588% |
5 | Mar 01, 2023 | May 17, 2023 | Jun 01, 2023 | $0.485 | 1.53% |
FAQ
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