Hubbell Inc Stock Forecast
Hubbell Inc stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 19, 2024)
The Hubbell Inc stock price fell by -1.08% on the last day (Friday, 19th Apr 2024) from $392.28 to $388.03. During the last trading day the stock fluctuated 2.83% from a day low at $385.54 to a day high of $396.45. The price has fallen in 8 of the last 10 days and is down by -6.97% for this period. 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 -33 thousand shares and in total, 213 thousand shares were bought and sold for approximately $82.61 million.
Given the current short-term trend, the stock is expected to rise 24.53% during the next 3 months and, with a 90% probability hold a price between $483.21 and $549.45 at the end of this 3-month period.
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HUBB Signals & Forecast
There are few to no technical positive signals at the moment. The Hubbell Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $396.87 and $402.73. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -8.57%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Hubbell Inc stock
Hubbell Inc finds support from accumulated volume at $380.67 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 $10.92 (2.83%) between high and low. For the last week, the stock has had daily average volatility of 2.62%.
Our recommended stop-loss: $365.33 (-5.85%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (HUBB) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Hubbell Inc to open at $390.01, and during the day (based on 14 day Average True Range), to move between $378.51 and $397.55, which gives a possible trading interval of +/-$9.52 (+/-2.45%) up or down from last closing price. If Hubbell Inc takes out the full calculated possible swing range there will be an estimated 4.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $380.67 (1.90%) than the resistance at $396.93 (2.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hubbell Inc stock A Buy?
Hubbell Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.848 Hold/Accumulate Upgraded
Predicted Opening Price for Hubbell Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $390.01 ( 0.509%) | $388.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HUBB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 400.92 | 3.32 % | |
| R2 | 396.75 | 2.25 % | ||
| R1 | 394.17 | 1.58 % | ||
| Current price: | 388.03 | |||
| Support | S1 | 385.84 | -0.566 % | |
| S2 | 383.26 | -1.23 % | ||
| S3 | 379.09 | -2.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 401.83 | 3.56 % | |
| R2 | 399.53 | 2.96 % | ||
| R1 | 396.93 | 2.29 % | ||
| Current price | 388.03 | |||
| Support | S1 | 380.67 | -1.90% | |
| S2 | 344.31 | -11.27% | ||
| S3 | 332.56 | -14.30% |
HUBB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Feb 28, 2024 | Mar 15, 2024 | $1.22 | 0.309% |
| 2 | Oct 27, 2023 | Nov 29, 2023 | Dec 15, 2023 | $1.22 | 0.375% |
| 3 | Jul 21, 2023 | Aug 30, 2023 | Sep 15, 2023 | $1.12 | 0.355% |
| 4 | Apr 21, 2023 | May 30, 2023 | Sep 15, 2023 | $1.12 | 0.355% |
| 5 | Jan 27, 2023 | Feb 27, 2023 | Mar 15, 2023 | $1.12 | 0.478% |
FAQ
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