HealthEquity Stock Forecast
HealthEquity stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 19, 2024)
The HealthEquity stock price gained 1.30% on the last trading day (Friday, 19th Apr 2024), rising from $79.85 to $80.89. During the last trading day the stock fluctuated 1.98% from a day low at $79.64 to a day high of $81.22. The price has fallen in 6 of the last 10 days but is still up by 1.89% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 63 thousand more shares were traded than the day before. In total, 532 thousand shares were bought and sold for approximately $43.07 million.
The stock lies in the middle of a weak 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 4.51% during the next 3 months and, with a 90% probability hold a price between $81.75 and $88.65 at the end of this 3-month period.
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HQY Signals & Forecast
The HealthEquity stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $80.21 and $80.84. 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). 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 Tuesday, March 19, 2024, and so far it has fallen -3.16%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for HealthEquity stock
HealthEquity finds support from accumulated volume at $79.85 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.58 between high and low, or 1.98%. For the last week the stock has had daily average volatility of 2.23%.
Our recommended stop-loss: $77.50 (-4.19%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (HQY) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect HealthEquity to open at $80.58, and during the day (based on 14 day Average True Range), to move between $78.90 and $82.88, which gives a possible trading interval of +/-$1.99 (+/-2.46%) up or down from last closing price. If HealthEquity takes out the full calculated possible swing range there will be an estimated 4.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $81.05 (0.20%) than the support at $79.85 (1.29%), 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 HealthEquity stock A Buy?
HealthEquity holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.800 Hold/Accumulate Upgraded
Predicted Opening Price for HealthEquity of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$80.58 ( 0.379%) | $80.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HQY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 82.16 | 1.57 % | |
R2 | 81.56 | 0.83 % | ||
R1 | 81.19 | 0.367 % | ||
Current price: | 80.89 | |||
Support | S1 | 79.98 | -1.13 % | |
S2 | 79.61 | -1.59 % | ||
S3 | 79.00 | -2.33 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 81.63 | 0.91 % | |
R2 | 81.36 | 0.581 % | ||
R1 | 81.05 | 0.198 % | ||
Current price | 80.89 | |||
Support | S1 | 79.85 | -1.29% | |
S2 | 77.32 | -4.41% | ||
S3 | 76.54 | -5.38% |
FAQ
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