HireQuest Stock Forecast
Evaluation of HireQuest stock downgraded after the last trading session.
(Updated on May 07, 2024)
The HireQuest stock price fell by -0.0778% on the last day (Tuesday, 7th May 2024) from $12.85 to $12.84. During the last trading day the stock fluctuated 5.61% from a day low at $12.47 to a day high of $13.17. The price has risen in 5 of the last 10 days and is up by 3.97% over the past 2 weeks. Volume has increased on the last day by 8 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 49 thousand shares were bought and sold for approximately $632.50 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.49% during the next 3 months and, with a 90% probability hold a price between $11.37 and $12.74 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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HQI Signals & Forecast
The HireQuest 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 $12.75 and $12.67. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Wednesday, May 01, 2024, and so far it has fallen -0.311%. Further fall is indicated until a new bottom pivot has been found. HireQuest gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
A buy signal from a double bottom formation was found on Thursday, April 25, 2024 and based on theory for this formation the price should go up by 10.67% to $14.21 within 22 trading days since signal was issued (Wednesday, May 08, 2024).
Support, Risk & Stop-loss for HireQuest stock
HireQuest finds support from accumulated volume at $12.66 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.699 between high and low, or 5.61%. For the last week, the stock has had daily average volatility of 5.07%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HQI) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect HireQuest to open at $12.83, and during the day (based on 14 day Average True Range), to move between $12.32 and $13.36, which gives a possible trading interval of +/-$0.518 (+/-4.04%) up or down from last closing price. If HireQuest takes out the full calculated possible swing range there will be an estimated 8.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $12.85 (0.08%) than the support at $12.66 (1.40%), 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.
Earnings coming up
HireQuest will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.140. We will update the financials statements for HireQuest, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.46% in the first trading day after earnings release.
Is HireQuest stock A Buy?
HireQuest 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -1.406 Sell Candidate Downgraded
Predicted Opening Price for HireQuest of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $12.83 ( 0.102%) | $12.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HQI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.53 | 5.34 % | |
| R2 | 13.26 | 3.26 % | ||
| R1 | 13.09 | 1.98 % | ||
| Current price: | 12.84 | |||
| Support | S1 | 12.56 | -2.18 % | |
| S2 | 12.39 | -3.47 % | ||
| S3 | 12.13 | -5.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.23 | 3.04 % | |
| R2 | 13.14 | 2.30 % | ||
| R1 | 12.85 | 0.0779 % | ||
| Current price | 12.84 | |||
| Support | S1 | 12.66 | -1.40% | |
| S2 | 12.51 | -2.57% | ||
| S3 | 12.05 | -6.15% |
HQI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 16, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.0600 | 0.480% |
| 2 | Nov 14, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.0600 | 0.377% |
| 3 | Aug 15, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.0600 | 0.357% |
| 4 | May 16, 2023 | May 31, 2023 | Jun 15, 2023 | $0.0600 | 0.220% |
| 5 | Feb 14, 2023 | Feb 28, 2023 | Mar 15, 2023 | $0.0600 | 0.278% |
FAQ
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