The Hanover Insurance Group Inc Stock Forecast
The Hanover Insurance Group Inc stock price ended at $129.59 on Friday, after losing 1.34%.
(Updated on Apr 26, 2024)
The The Hanover Insurance Group Inc stock price fell by -1.34% on the last day (Friday, 26th Apr 2024) from $131.35 to $129.59. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.42% from a day low at $129.28 to a day high of $131.11. The price has been going up and down for this period, and there has been a 0.9% gain for the last 2 weeks. Volume has increased on the last day by 14 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, 184 thousand shares were bought and sold for approximately $23.83 million.
The stock lies in the middle of a 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 -2.03% during the next 3 months and, with a 90% probability hold a price between $122.50 and $132.51 at the end of this 3-month period.
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THG Signals & Forecast
There are few to no technical positive signals at the moment. The The Hanover Insurance Group Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $131.24 and $130.32. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -2.94%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A buy signal from a double bottom formation was found on Wednesday, April 17, 2024 and based on theory for this formation the price should go up by 8.71% to $140.88 within 21 trading days since signal was issued (Monday, April 29, 2024).
Support, Risk & Stop-loss for The Hanover Insurance Group Inc stock
The Hanover Insurance Group Inc finds support from accumulated volume at $127.76 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 $1.83 (1.42%) between high and low. For the last week, the stock has had daily average volatility of 1.61%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (THG) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect The Hanover Insurance Group Inc to open at $129.99, and during the day (based on 14 day Average True Range), to move between $127.13 and $132.05, which gives a possible trading interval of +/-$2.46 (+/-1.90%) up or down from last closing price. If The Hanover Insurance Group Inc takes out the full calculated possible swing range there will be an estimated 3.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $131.02 (1.10%) than the support at $127.76 (1.41%), 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.
Earnings coming up
The Hanover Insurance Group Inc will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.66. We will update the financials statements for The Hanover Insurance Group Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.22% in the first trading day after earnings release.
Is The Hanover Insurance Group Inc stock A Buy?
The Hanover Insurance Group Inc holds several negative signals and is within a 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.
Current score: -2.849 Sell Candidate Unchanged
Predicted Opening Price for The Hanover Insurance Group Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $129.99 ( 0.311%) | $129.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for THG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 131.82 | 1.72 % | |
| R2 | 131.12 | 1.18 % | ||
| R1 | 130.69 | 0.85 % | ||
| Current price: | 129.59 | |||
| Support | S1 | 129.29 | -0.228 % | |
| S2 | 128.86 | -0.561 % | ||
| S3 | 128.16 | -1.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 136.17 | 5.08 % | |
| R2 | 131.39 | 1.39 % | ||
| R1 | 131.02 | 1.10 % | ||
| Current price | 129.59 | |||
| Support | S1 | 127.76 | -1.41% | |
| S2 | 127.52 | -1.60% | ||
| S3 | 126.31 | -2.53% |
THG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 26, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.85 | 0.624% |
| 2 | Dec 04, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.85 | 0.700% |
| 3 | Sep 05, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.81 | 0.730% |
| 4 | Jun 06, 2023 | Jun 15, 2023 | Jun 30, 2023 | $0.81 | 0.717% |
| 5 | Feb 27, 2023 | Mar 14, 2023 | Mar 31, 2023 | $0.81 | 0.630% |
FAQ
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