Two Harbors Investment Corp. Stock Forecast
Green day on Wednesday for Two Harbors Investment Corp. stock after gaining 0.620%
(Updated on Jun 26, 2024)
The Two Harbors Investment Corp. stock price gained 0.620% on the last trading day (Wednesday, 26th Jun 2024), rising from $24.20 to $24.35. It has now gained 3 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 1.46% from a day low at $24.00 to a day high of $24.35. The price has risen in 8 of the last 10 days and is up by 2.1% over the past 2 weeks. Volume fell on the last day by -419 shares and in total, 19 thousand shares were bought and sold for approximately $473.92 thousand. 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 has broken the narrow and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $24.29 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $24.62 sometime during the next 3 months.
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TWO-PC Signals & Forecast
The Two Harbors Investment Corp. 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 $24.09 and $23.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 2.01%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
A buy signal from a double bottom formation was found on Tuesday, June 18, 2024 with a target of $24.03. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Two Harbors Investment Corp. stock
Two Harbors Investment Corp. finds support from accumulated volume at $24.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.350 between high and low, or 1.46%. For the last week the stock has had daily average volatility of 0.83%
Our recommended stop-loss: $23.21 (-4.68%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (TWO-PC) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Two Harbors Investment Corp. to open at $24.23, and during the day (based on 14 day Average True Range), to move between $24.14 and $24.56, which gives a possible trading interval of +/-$0.210 (+/-0.86%) up or down from last closing price. If Two Harbors Investment Corp. takes out the full calculated possible swing range there will be an estimated 1.73% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $24.20, some $0.150 (0.62%) from the current price of $24.35, our system finds the risk reward attractive.
Is Two Harbors Investment Corp. stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Two Harbors Investment Corp. stock to perform well in the short-term period.
Current score: 4.125 Buy Candidate Unchanged
Predicted Opening Price for Two Harbors Investment Corp. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $24.23 ( 0.479%) | $24.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TWO-PC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.58 | 0.96% |
| R2 | 24.45 | 0.409% |
| R1 | 24.37 | 0.0699% |
| Price | 24.35 | |
| S1 | 24.10 | -1.03% |
| S2 | 24.02 | -1.37% |
| S3 | 23.88 | -1.92% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 24.35 | |
| S1 | 24.20 | -0.616% |
| S2 | 24.18 | -0.719% |
| S3 | 23.93 | -1.72% |
TWO-PC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 12, 2024 | Jul 12, 2024 | Jul 29, 2024 | $0 | 0% |
| 2 | Apr 11, 2024 | Apr 11, 2024 | Apr 29, 2024 | $0.453 | 1.93% |
| 3 | Jan 11, 2024 | Jan 11, 2024 | Jan 26, 2024 | $0.453 | 2.00% |
| 4 | Oct 11, 2023 | Oct 11, 2023 | Oct 27, 2023 | $0.453 | 2.43% |
| 5 | Jul 11, 2023 | Jul 11, 2023 | Jul 11, 2023 | $0.453 | 2.22% |
FAQ
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