Huntsman Corporation Stock Forecast
Evaluation of Huntsman Corporation stock downgraded after the last trading session.
(Updated on May 01, 2024)
The Huntsman Corporation stock price fell by -0.168% on the last day (Wednesday, 1st May 2024) from $23.86 to $23.82. During the last trading day the stock fluctuated 2.89% from a day low at $23.73 to a day high of $24.41. The price has fallen in 5 of the last 10 days but is still up by 0.63% over the past 2 weeks. Volume has increased on the last day by 165 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $41.83 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $23.62 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Huntsman Corporation stock with a 90% probability to be traded between $23.33 and $26.08 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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HUN Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 0.634%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Huntsman Corporation 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 $23.98 and $24.87. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Huntsman Corporation stock
Huntsman Corporation finds support from accumulated volume at $23.72 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.685 between high and low, or 2.89%. For the last week, the stock has had daily average volatility of 2.18%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HUN) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Huntsman Corporation to open at $23.99, and during the day (based on 14 day Average True Range), to move between $23.28 and $24.36, which gives a possible trading interval of +/-$0.537 (+/-2.25%) up or down from last closing price. If Huntsman Corporation takes out the full calculated possible swing range there will be an estimated 4.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $23.72 (0.42%) than the resistance at $24.80 (4.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Huntsman Corporation will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0800. We will update the financials statements for Huntsman Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.96% in the first trading day after earnings release.
Is Huntsman Corporation stock A Buy?
Huntsman Corporation holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.448 Sell Candidate Downgraded
Predicted Opening Price for Huntsman Corporation of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $23.99 ( 0.693%) | $23.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HUN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.67 | 3.57 % | |
| R2 | 24.41 | 2.47 % | ||
| R1 | 24.25 | 1.79 % | ||
| Current price: | 23.82 | |||
| Support | S1 | 23.72 | -0.406 % | |
| S2 | 23.56 | -1.08 % | ||
| S3 | 23.30 | -2.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.18 | 9.91 % | |
| R2 | 25.79 | 8.27 % | ||
| R1 | 24.80 | 4.11 % | ||
| Current price | 23.82 | |||
| Support | S1 | 23.72 | -0.420% | |
| S2 | 23.67 | -0.630% | ||
| S3 | 23.35 | -1.97% |
HUN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.250 | 0.96% |
| 2 | Nov 02, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.240 | 0.96% |
| 3 | Aug 02, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.238 | 0.97% |
| 4 | May 09, 2023 | Jun 14, 2023 | Jun 30, 2023 | $0.238 | 0.88% |
| 5 | Feb 20, 2023 | Mar 14, 2023 | Mar 31, 2023 | $0.238 | 0.87% |
FAQ
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