Harrow Health, Inc. 11.875% Senior Notes Stock Forecast

Harrow Health, Inc. 11.875% Senior Notes stock downgraded to Hold/Accumulate
(Updated on Jun 25, 2024)

HROWM Signals & Forecast

The Harrow Health, Inc. 11.875% Senior Notes 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 $26.62 and $26.38. 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 Monday, June 24, 2024, and so far it has fallen -0.336%. Further fall is indicated until a new bottom pivot has been found. Harrow Health, Inc. 11.875% Senior Notes 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". The stock had a Golden Star Signal on Friday, November 03, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Harrow Health, Inc. 11.875% Senior Notes stock

Harrow Health, Inc. 11.875% Senior Notes finds support from accumulated volume at $26.64 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 $0.0800 between high and low, or 0.300%. For the last week the stock has had daily average volatility of 0.96%.

Our recommended stop-loss: $25.89 (-2.90%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 47 days ago.)

Trading Expectations (HROWM) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Harrow Health, Inc. 11.875% Senior Notes Due 2027 to open at $26.69, and during the day (based on 14 day Average True Range), to move between $26.40 and $26.92, which gives a possible trading interval of +/-$0.259 (+/-0.97%) up or down from last closing price. If Harrow Health, Inc. 11.875% Senior Notes Due 2027 takes out the full calculated possible swing range there will be an estimated 1.94% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $26.64 (0.08%) than the resistance at $26.69 (0.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Harrow Health, Inc. 11.875% Senior Notes Due 2027 stock A Buy?

Harrow Health, Inc. 11.875% Senior Notes 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. 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 Hold/Accumulate candidate.

Current score: 0.455 Hold/Accumulate Downgraded

Predicted Opening Price for Harrow Health, Inc. 11.875% Senior Notes Due 2027 of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.