Harris Corporation Stock Forecast

Harris Corporation stock upgraded to Buy Candidate.
(Updated on May 17, 2024)

HRS.F Signals & Forecast

The Harris Corporation 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 204.34€ and 196.43€. 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 15, 2024, and so far it has fallen -0.341%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Harris Corporation stock

Harris Corporation finds support from accumulated volume at 200.40€ 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved 2.90€ between high and low, or 1.42%. For the last week the stock has had daily average volatility of 0.748%.

Our recommended stop-loss: 196.64€ (-3.84%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (HRS.F) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Harris Corporation to open at 204.87€, and during the day (based on 14 day Average True Range), to move between 202.11€ and 206.89€, which gives a possible trading interval of +/-2.39€ (+/-1.17%) up or down from last closing price. If Harris Corporation takes out the full calculated possible swing range there will be an estimated 2.33% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 205.10€ (0.29%) than the support at 200.40€ (2.00%), 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 Harris Corporation 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 Harris Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.225 Buy Candidate Upgraded

Predicted Opening Price for Harris Corporation of Monday, May 20, 2024

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