Hawkins Stock Forecast

Buy candidate since Nov 19, 2024 Gain 8.95%

The Hawkins stock price gained 0.255% on the last trading day (Wednesday, 4th Dec 2024), rising from $137.26 to $137.61. 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 2.90% from a day low at $134.95 to a day high of $138.86. The price has risen in 9 of the last 10 days and is up by 8.95% over the past 2 weeks. Volume fell on the last day by -4 thousand shares and in total, 64 thousand shares were bought and sold for approximately $8.87 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies in the upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $139.98 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 8.23% during the next 3 months and, with a 90% probability hold a price between $118.82 and $151.50 at the end of this 3-month period.

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HWKN Signals & Forecast

Mostly positive signals in the chart today. The Hawkins 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 $136.03 and $124.53. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, November 04, 2024, and so far it has risen 29.54%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Hawkins stock

On the downside, the stock finds support just below today's level from accumulated volume at $121.40 and $119.88. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Hawkins finds support just below today's level at $121.40. If this is broken, then the next support from accumulated volume will be at $119.88 and $106.90.

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 $3.91 between high and low, or 2.90%. For the last week, the stock has had daily average volatility of 3.45%.

The Hawkins stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stock may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $131.60 (-4.37%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 21 days ago.)

Trading Expectations (HWKN) For The Upcoming Trading Day Of Thursday 5th

For the upcoming trading day on Thursday, 5th we expect Hawkins to open at $137.14, and during the day (based on 14 day Average True Range), to move between $133.21 and $142.01, which gives a possible trading interval of +/-$4.40 (+/-3.20%) up or down from last closing price. If Hawkins takes out the full calculated possible swing range there will be an estimated 6.40% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $121.40, some $16.21 (11.78%) from the current price of $137.61, our system finds the risk reward attractive.

Is Hawkins stock A Buy?

Hawkins holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.592 Strong Buy Candidate Upgraded

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Predicted Fair Opening Price

Predicted fair opening price on December 5, 2024 - $137.14 ( 0.343%).