HireQuest Stock Forecast
Evaluation of HireQuest stock downgraded after the last trading session.
(Updated on May 29, 2024)
The HireQuest stock price fell by -3.28% on the last day (Wednesday, 29th May 2024) from $13.09 to $12.66. During the last trading day the stock fluctuated 2.46% from a day low at $12.58 to a day high of $12.89. The price has risen in 7 of the last 10 days and is up by 2.93% over the past 2 weeks. 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 -19 shares and in total, 14 thousand shares were bought and sold for approximately $182.80 thousand.
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 HireQuest stock with a 90% probability to be traded between $12.11 and $13.71 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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HQI Signals & Forecast
The HireQuest stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $13.01. On a fall, the stock will find some support from the long-term average at approximately $12.65. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Monday, May 20, 2024, and so far it has fallen -5.52%. Further fall is indicated until a new bottom pivot has been found. 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.
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 12.24% to $14.21 within 22 trading days since signal was issued (Thursday, May 30, 2024).
Support, Risk & Stop-loss for HireQuest stock
HireQuest finds support from accumulated volume at $12.51 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.310 between high and low, or 2.46%. For the last week the stock has had daily average volatility of 3.73%.
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 Thursday 30th
For the upcoming trading day on Thursday, 30th we expect HireQuest to open at $12.71, and during the day (based on 14 day Average True Range), to move between $12.12 and $13.20, which gives a possible trading interval of +/-$0.543 (+/-4.29%) up or down from last closing price. If HireQuest takes out the full calculated possible swing range there will be an estimated 8.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.51 (1.18%) than the resistance at $12.84 (1.42%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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: -1.266 Sell Candidate Downgraded
Predicted Opening Price for HireQuest of Thursday, May 30, 2024
| Fair opening price May 30, 2024 | Current price |
|---|---|
| $12.71 ( 0.395%) | $12.66 |
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 | 13.02 | 2.84 % | |
| R2 | 12.90 | 1.91 % | ||
| R1 | 12.83 | 1.33 % | ||
| Current price: | 12.66 | |||
| Support | S1 | 12.59 | -0.540 % | |
| S2 | 12.52 | -1.12 % | ||
| S3 | 12.40 | -2.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.95 | 2.29 % | |
| R2 | 12.85 | 1.50 % | ||
| R1 | 12.84 | 1.42 % | ||
| Current price | 12.66 | |||
| Support | S1 | 12.51 | -1.18% | |
| S2 | 12.05 | -4.82% | ||
| S3 | 11.90 | -6.00% |
HQI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 15, 2024 | Jun 03, 2024 | Jun 17, 2024 | $0.0600 | 0.462% |
| 2 | Feb 16, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.0600 | 0.480% |
| 3 | Nov 14, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.0600 | 0.377% |
| 4 | Aug 15, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.0600 | 0.357% |
| 5 | May 16, 2023 | May 31, 2023 | Jun 15, 2023 | $0.0600 | 0.220% |
FAQ
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