Hawaiian Electric Industries Inc Stock Forecast
Strong day for Hawaiian Electric Industries Inc stock price on Friday rising 6.86% to $10.91
(Updated on Apr 19, 2024)
The Hawaiian Electric Industries Inc stock price gained 6.86% on the last trading day (Friday, 19th Apr 2024), rising from $10.21 to $10.91. 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 7.65% from a day low at $10.20 to a day high of $10.98. The price has risen in 6 of the last 10 days. Volume fell on the last day by -968 thousand shares and in total, 3 million shares were bought and sold for approximately $30.12 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 the upper part of a wide and falling 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 $10.99 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -24.22% during the next 3 months and, with a 90% probability hold a price between $7.09 and $8.33 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
HE Signals & Forecast
There are mixed signals in the stock today. The Hawaiian Electric Industries Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $11.06. On a fall, the stock will find some support from the short-term average at $10.36. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 14.60%. Further rise is indicated until a new top pivot has been found. 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 Hawaiian Electric Industries Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $10.21 and $9.77. 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, Hawaiian Electric Industries Inc finds support just below today's level at $10.21. If this is broken, then the next support from accumulated volume will be at $9.77 and $9.52.
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 $0.780 between high and low, or 7.65%. For the last week, the stock has had daily average volatility of 8.55%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HE) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Hawaiian Electric Industries Inc to open at $10.70, and during the day (based on 14 day Average True Range), to move between $10.41 and $11.41, which gives a possible trading interval of +/-$0.496 (+/-4.55%) up or down from last closing price. If Hawaiian Electric Industries Inc takes out the full calculated possible swing range there will be an estimated 9.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.27 (3.30%) than the support at $10.21 (6.42%), 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.
Is Hawaiian Electric Industries Inc stock A Buy?
Hawaiian Electric Industries Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.654 Sell Candidate Unchanged
Predicted Opening Price for Hawaiian Electric Industries Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $10.70 ( 1.96%) | $10.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.48 | 5.19 % | |
| R2 | 11.18 | 2.46 % | ||
| R1 | 10.99 | 0.776 % | ||
| Current price: | 10.91 | |||
| Support | S1 | 10.40 | -4.69 % | |
| S2 | 10.21 | -6.37 % | ||
| S3 | 9.92 | -9.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.11 | 20.16 % | |
| R2 | 12.47 | 14.30 % | ||
| R1 | 11.27 | 3.30 % | ||
| Current price | 10.91 | |||
| Support | S1 | 10.21 | -6.42% | |
| S2 | 9.77 | -10.45% | ||
| S3 | 9.52 | -12.74% |
HE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 03, 2023 | Aug 17, 2023 | Sep 08, 2023 | $0.360 | 2.87% |
| 2 | May 04, 2023 | May 18, 2023 | Sep 08, 2023 | $0.360 | 2.87% |
| 3 | Feb 10, 2023 | Feb 22, 2023 | Mar 10, 2023 | $0.360 | 0.96% |
| 4 | Nov 03, 2022 | Nov 21, 2022 | Dec 09, 2022 | $0.350 | 0.85% |
| 5 | Aug 05, 2022 | Aug 17, 2022 | Sep 09, 2022 | $0.350 | 0.88% |
FAQ
Click here for our free guide on how to buy Hawaiian Electric Industries Inc Stock.
