Henry Schein Stock Forecast
Henry Schein stock upgraded to Hold/Accumulate.
(Updated on Apr 24, 2024)
The Henry Schein stock price gained 0.618% on the last trading day (Wednesday, 24th Apr 2024), rising from $72.76 to $73.21. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.66% from a day low at $72.20 to a day high of $73.40. The price has been going up and down for this period, and there has been a 1.88% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 178 thousand more shares were traded than the day before. In total, 774 thousand shares were bought and sold for approximately $56.66 million.
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 -5.43% during the next 3 months and, with a 90% probability hold a price between $65.90 and $73.41 at the end of this 3-month period.
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HSIC Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 4.63%. Further rise is indicated until a new top pivot has been found. 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. The Henry Schein stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $73.24. On a fall, the stock will find some support from the short-term average at $71.47. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Henry Schein stock
Henry Schein finds support from accumulated volume at $73.12 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.20 (1.66%) between high and low. For the last week, the stock has had daily average volatility of 1.56%.
Our recommended stop-loss: $69.93 (-4.48%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (HSIC) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Henry Schein to open at $72.94, and during the day (based on 14 day Average True Range), to move between $71.90 and $74.52, which gives a possible trading interval of +/-$1.31 (+/-1.79%) up or down from last closing price. If Henry Schein takes out the full calculated possible swing range there will be an estimated 3.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $73.12 (0.12%) than the resistance at $77.85 (6.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Henry Schein stock A Buy?
Henry Schein 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: -0.541 Hold/Accumulate Upgraded
Predicted Opening Price for Henry Schein of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$72.94 ( 0.373%) | $73.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HSIC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 74.14 | 1.27 % | |
R2 | 73.68 | 0.640 % | ||
R1 | 73.40 | 0.253 % | ||
Current price: | 73.21 | |||
Support | S1 | 72.48 | -1.00 % | |
S2 | 72.20 | -1.39 % | ||
S3 | 71.74 | -2.01 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 80.57 | 10.05 % | |
R2 | 79.86 | 9.08 % | ||
R1 | 77.85 | 6.34 % | ||
Current price | 73.21 | |||
Support | S1 | 73.12 | -0.123% | |
S2 | 72.89 | -0.437% | ||
S3 | 72.88 | -0.451% |
FAQ
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